CVS Health entered a deal to acquire home health company Signify Health for $8 billion Sept. 5.
Here's what ASCs need to know:
1. The move marks CVS Health's efforts to expand its value-based care offerings. Signify's value-based provider network includes 50 health plan clients and members and has focused on value-based care offerings since it acquired Caravan Health in March 2022, CVS Health said in a Sept. 5 news release.
2. CVS beat out bids from other companies looking to acquire Signify. According to The Wall Street Journal, both Amazon and UnitedHealthhad interest in acquiring the company.
3. The deal will add more than 10,000 clinicians to CVS Health's portfolio.
4. Signify's market capitalization was around $6.7 billion on Sept. 4. CVS Health agreed to pay $30.50 per share in a cash transaction expected to close in the first half of 2023.