Home health services provider Signify Health has found itself at the center of a bidding war. Three market powerhouses with formidable healthcare portfolios are fighting to purchase the Dallas, Texas-based Signify. Amazon.com, UnitedHealth Group, and CVS Health Corp are in the process of one-upmanship with their unique offers to take control of the company in question.
Maybe the least recognizably related to healthcare of the trio of bidders, Amazon has nonetheless beefed up its medical business of late. Indeed, just last month the retail giant snatched up One Medical, a telehealth and brick-and-mortar medical office company, for roughly $3.5 billion.
Though Amazon’s undisclosed yet reportedly generous offer is nothing to sneeze at, UnitedHealth has barged in with the highest bid, which hovers above $30 a share. Following a recent 36.8% surge of its shares to $29 in premarket trading, Signify holds a market capitalization of just under $7 billion.
The company is currently weighing its options, with final offers expected in the first days of September. All bidding parties have remained tight-lipped about the situation, although a Wall Street Journal report from early August cited CVS as eager to augment its in-home health services through the acquisition of a company such as Signify.