Amazon joins UnitedHealth and CVS in the bid for Signify Health
Yahoo Finance’s Anjalee Khemlani discusses news that Amazon has joined the bidding for Signify Health.
Video Transcript
BRIAN CHEUNG: Well, Amazon has reportedly joined the race to buy Signify Health as the e-commerce giant looks to expand its footprint in the health care sector. Let’s bring in Yahoo Finance’s Anjalee Khemlani here with the details. A lot of rumors here, but apparently CVS, UnitedHealth also in the mix.
ANJALEE KHEMLANI: Absolutely. And UnitedHealth actually has the highest bid so far, according to Bloomberg. But what this really signifies is Amazon’s additional foray into health care. It’s already really piled up a bunch of acquisitions and partnerships between Care Medical, Ginger, PillPack, of course, and One Medical recently, really showcasing how much interest it has in every sector that has to do with the large trillions-of-dollars health care pie. And this is just another example, at-home care and health care in general for the elderly is a really big portion where you see a crop up of lots of tech platforms recently in the recent past. So a really interesting sale there.
So this is up for sale through an auction, valuations ranging to about $8 billion currently. The company is valued at about $5 billion. And like you said, there are others in the mix. The board is meeting today, bids are due by Labor Day. So this is going to come up pretty quick, and it’s going to be interesting to watch where it lands and whether or not Amazon gets to scoop it up.
BRIAN CHEUNG: Possibly an $8 billion deal. Yahoo Finance’s Anjalee Khemlani. Thanks so much for the updates, appreciate it.
SOURCE: Yahoo! Finance
