Amazon Among Bidders for Signify Health

Amazon Among Bidders for Signify Health


Signify uses analytics and technology to help health plans, physician groups and health systems with in-home care.



Photo:

Shelby Tauber/Bloomberg News

Amazon.com Inc.

is among the bidders for healthcare company

Signify Health Inc.,

joining other heavy hitters vying in an auction for the home-health-services provider, according to people familiar with the matter.

Signify is for sale in an auction that could value it at more than $8 billion, the people said. Bids are due around Labor Day, according to the people, but it is always possible an eager bidder could strike a deal before then.

CVS Health Corp. is also among the suitors, The Wall Street Journal previously reported, as the drugstore and insurance giant looks to expand in home-health services. UnitedHealth Group Inc. and another corporate buyer are also circling the company, according to the people.

There is no guarantee any of them will reach a deal for Signify, which has been exploring strategic alternatives. The healthcare company has a market value of roughly $5 billion, boosted since the Journal first reported on the possibility of a deal early this month.

Signify uses analytics and technology to help employers, health plans, physician groups and health systems with in-home care. It offers in-home health evaluations for Medicare Advantage and other government-run managed care plans.

A deal would mark Amazon’s latest foray into the healthcare sector, and the second time in recent months it faced off against CVS.

The online-commerce and media and technology giant in July agreed to pay $3.9 billion for

1Life Healthcare Inc.,


ONEM 0.17%

which operates a primary-care practice under the name One Medical. The deal marks the first major acquisition announced during the tenure of Chief Executive Andy Jassy, for whom expansion into healthcare is a top priority.

CVS also had eyed the One Medical parent, according to people familiar with the matter.

New York-based private-equity firm New Mountain Capital is an investor in Signify, after first backing it in 2017.

Write to Laura Cooper at laura.cooper@wsj.com

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Appeared in the August 22, 2022, print edition as ‘Amazon Joins Bidding for Signify.’



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