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CVS Health seeks to buy Signify Health – WSJ

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CVS Health Corp is seeking to buy Signify Health Inc as it looks to expand in-home health services, the Wall Street Journal reported on Sunday, citing sources.

Signify Health is working with bankers to explore strategic alternatives, including a sale, the Journal reported last week.

Initial bids are due this coming week, and CVS is planning to enter one, the report said.

Signify has a market cap of around $4.66 billion based on its stock closing price on Friday, according to Refinitiv calculations.

CVS did not immediately respond to a request for comment. A spokeswoman for Signify Health said the company does not comment on market rumors. (Reporting by Ann Maria Shibu in Bengaluru; additional reporting by Herbert Lash in New York; Editing by Lisa Shumaker and Cynthia Osterman)

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