Amazon (Nasdaq:AMZN) is among the companies competing to spend billions of dollars to buy home healthcare services company Signify Health, according to media reports citing anonymous sources.
The Wall Street Journal and Bloomberg also mentioned UnitedHealth Group and CVS Health Corp. as potential buyers, citing people familiar with the manner. During Signify Health’s Q2 earnings call on Aug. 4, CEO Kyle Armbrester declined to discuss market speculation.
Dallas-based Signify Health provides clinical, social, and behavioral services to support value-based healthcare. It has a mobile network of 10,000 credentialed clinicians who provide in-home evaluations of Medicare Advantage and Medicaid plan members. New York-based private equity outfit New Mountain Capital is a significant investor.
About a month ago, Amazon announced plans to acquire primary care provider One Medical in a nearly $4 billion deal. Early this year, the mega-retailer said it was making its Amazon Care virtual health services available nationwide.
Amazon’s bid to become a major player in healthcare has been rocky at times, but it now seems to be moving into the area in earnest. The shift matters for medical device companies because Amazon Web Services provides a host of AI- and cloud-based services to many of them. Company officials say they’re helping medtech companies better make sense of healthcare data.
