CVS Health Corp. has reportedly taken the lead in the battle among heavyweights for home health company Signify Health Inc.
CVS is said to be in advanced talks with a bid of around $8 billion, according to Bloomberg.
Signify is a provider of technology and services for home health.
The companies could announce a deal next week worth more than $30 a share.
UNITEDHEALTH, AMAZON, CVS HEALTH, OPTION CARE BIDDING ON SIGNIFY HEALTH
Amazon.com and UnitedHealth Group have also been interested in entering into a deal.
There is still no guarantee that CVS will reach a deal for Signify, which has been exploring strategic options since earlier this summer.
Representatives for Signify and CVS declined to comment.
Amazon announced in July that it will buy US primary care provider One Medical for $18 a share, in an all-cash deal worth about $3.9 billion.
CVS PLANS TO TRANSITION TO PRIMARY MERCHANDISE BY 2022
This deal is under investigation as the Federal Trade Commission has requested more information about the acquisition.
|CVS||CVS HEALTH CORP.||99.47||-0.43||-0.43%|
|SGFY||SIGNIFY HEALTH INC||28.77||+0.38||+1.34%|
|UNH||UNITEDHEALTH GROUP INC.||516.35||-7.65||-1.46%|
The Wall Street Journal previously reported that CVS was in advanced talks to buy Signify.
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Signify rose 1.3% to close at $28.77 in New York trading on Friday, giving it a market capitalization of about $6.7 billion.
FOX Business’ Landon Mion contributed to this report.