Amazon is looking to expand further into the healthcare industry as the company has made a bid to secure Signify Health Inc., an in-home health service provider that could be valued at as much as $8 billion.
The sale of Signify is underway through an auction that is gaining attention from several well-developed companies. Bids for the company are to be placed around Labor Day with CVS Health Corp. and UnitedHealth Group Inc. also interested in acquiring the company.
It is unclear at the current time if any of these organizations will be able to acquire the company as Signify has been exploring “strategic alternatives” as the company has a market value of roughly $5 billion.
Signify is described as an in-home health provider as the company uses analytics and technology for employers, physicians, and health systems with in-home care. The company runs home health evaluations for Medicare Advantage and other government-run programs.
This is not the first time that Amazon has entered the health care market. In July the company agreed to purchase 1Life Healthcare Inc. for $3.9 billion. 1Life Healthcare operates a primary care practice under the name One Medical.
Source: Wall Street Journal