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CVS strikes $8bn deal to acquire New Mountain Capital’s Signify Health

CVS Health Corp has agreed a deal to acquires Signify Health Inc, a home-health and technology services provider and portfolio company of private equity firm New Mountain Capital for around $8 billion, in a further expansion of the business beyond its retail roots, according to a report by Bloomberg.

The report cites a report released on Monday as confirming that CVS paying $30.50 a share to acquire Signify in an all-cash deal. The company reportedly beat off competition from the likes of UnitedHealth Group Inc, Inc and Option Care Health Inc to agree a deal. 

New Mountain Capital formed Signify Health in 2017, with the company’s network now comprising more than 10,000 clinicians in all 50 states in the US.

The transaction is expected to close in the H1 2023.

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