CVS Health Seeks To Buy Signify Health : Report

CVS Health Corp. (CVS) is seeking to buy Signify Health Inc. (SGFY) as the drugstore and insurance giant looks to expand in home-health services, the Wall Street Journal reported citing people familiar with the matter.

Signify Health is exploring strategic alternatives including a sale, Journal reported last week. Initial bids are due this coming week and CVS is planning to enter one. CVS could face competition from other managed-care providers and private-equity firms, the report said.

There is no guarantee any of them will reach a deal for Signify, which has a market value of around $5.78 billion based on its stock closing price on Friday.

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