SEALED THE DEAL: CVS buys home health care company for $8 billion after bidding war
The deal is expected to close in the first half of 2023, subject to approval by Signify shareholders, receipt of regulatory approval and satisfaction of other customary closing conditions. Private equity funds affiliated with New Mountain Capital, which owns approximately 60% of Signify's common stock, have agreed to vote the shares they own in favor of the transaction.
Signify Health CEO Kyle Armbrester will continue to lead the company following the close of the transaction.CVS operates more than 9,900 retail pharmacy locations and 1,100 MinuteClinic locations. The company also offers prescription drug plans for major companies through its Caremark arm and provides health insurance plans and services to an estimated 39 million people through Aetna.
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