CVS to buy Signify Health for $8 billion

CVS Health is acquiring the in-home healthcare giant Signify Health for $8 billion, the company announced Monday, paying $30.50 a share in cash.

“This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the health care experience,” CVS Health President and CEO Karen Lynch said in a press release.

The acquisition is expected to close in the first half of 2023.

Planning a mega-expansion into the healthcare industry, CVS had previously acquired insurer Aetna and pharmacy benefits manager Caremark.