CVS Acquires Signify Health for $8b

CVS Health Corporation is buying Signify Health, a $773.4m provider of home and virtual healthcare services.  The acquisition adds a mobile network of 10,000 credentialed clinicians offering in-home evaluations of Medicare Advantage and Medicaid plan members.  The deal represents a shift in the drugstore chain’s traditional brick and mortar store foundation to home visits and remote care.  Last year, CVS announced plans to close 900 stores over three years.  Deal terms -- $8b on sales of $773.4m (10.3x) and normalized EBITDA of $132m (60.6x).

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Healthcare IT