UnitedHealth and Amazon are the latest companies to enter the battle to acquire Signify Health Inc. They join the likes of CVS Health Corp. and Option Care Health Inc. in a race to seize ownership of the home-health technology and services provider.
According to sources familiar with the matter, the highest bid on the company was submitted by UnitedHealth, with Amazon following close behind. It is believed that UnitedHealth’s bid comes in at over $30 per share.
Following news of the latest bidding action, Signify Health’s shares 41% to $29.81 on Monday morning, up from $21.20 on Friday. The stock has climbed by 6.7% since The Wall Street Journal reported that pharmacy chain CVS was considering a bid for the company.
Signify is scheduled to hold a board meeting on Monday to discuss the bids that have been submitted so far. A final decision is far from being made, however, with the deadline for bids being September 6.
Through the development of an array of software and services, Signify aims to help medical providers shift to value-based payment plans, whereby low-income patients can receive high-quality medical care at affordable costs. Its clients include payers such as government programs, health plans, and employers.