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Monday, 08/22/2022 7:15:03 AM

Monday, August 22, 2022 7:15:03 AM

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Amazon and UnitedHealth Are Bidding for Signify Health -- Barrons.com
4:29 am ET August 22, 2022 (Dow Jones) Print
By Joe Woelfel
The board of Signify Health is expected to be meeting Monday to discuss takeover bids for the healthcare company. It's got a few more bids to choose from.

It's previously been reported that CVS Health (ticker: CVS) was a suitor for Signify Health (SGFY). The Wall Street Journal reported late Sunday that Amazon.com (AMZN), UnitedHealth Group (UNH) and Option Care Health (OPCH) also are bidding for the home-health-services provider. The Journal report cited people familiar with the matter.

Signify Health's market capitalization is nearly $5 billion. The Journal reported that Signify was for sale in an auction that could value it at more than $8 billion. Bids are due around Labor Day, the people told the Journal, but it's always possible a deal could be reached before then.

Signify shares were soaring 34.5% to $28.52 in premarket trading Monday.

Just last month, Amazon reached a deal to acquire One Medical for about $3.9 billion, including debt. One Medical operates under 1Life Healthcare (ONEM).

Write to Joe Woelfel at joseph.woelfel@barrons.com


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