In the recent developments with respect to the companies associated with healthcare, it is been known that CVS Health is all set to acquire Dallas-based Signify Health. The latter owns a network of 10,000 clinicians across 50 states with more than 50 health plan clients. As per the reports, it is been known that the acquisition is been set to take place at a whopping price of $ 8 billion.
The acquisition of Signify Health on the part of CVS Health adds clinicians that assess patients at home. The acquirer (CVS Health) will also be benefitted from the value-based care platform. The platform connects payers to providers and providers to each other to lower costs and improves patient outcomes.
Speaking about the same Karen S. Lynch, CVS Health president, and CEO, said in the company’s announcement that the combination will strengthen the company’s ability to expand and develop new product offerings in a multi-payer approach.
In the year 2022, CVS Health aims to serve 2.5 million members at their homes, both in person and virtually. A few months ago, in March the company acquired Caravan Health. Caravan Health serves Medicare beneficiaries through accountable care organizations. In 2023, those ACOs will represent 700,000 patients. According to Signify Health, its providers spend 2.5 times longer with a patient in the home than providers in average primary care office visits
“As we carefully considered our long-term strategic options, we determined that CVS Health is the ideal partner, given its focus on expanding access to health services and helping consumers navigate to the best sites of care. We are both building an integrated experience that supports a more proactive, preventive, and holistic approach to patient care,” Kyle Armbrester, CEO of Signify Health, said in the announcement. It is been known that Kyle Armbrester will continue to lead Signify Health under CVS Health.
