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US DOJ Seeks More Info On $8B CVS-Signify Health Deal

By  |  October 20, 2022

The US Department of Justice (DOJ) has asked for more details on CVS’s proposed $8 billion deal to buy Signify Health, in a possible indication that the companies face a longer deal investigation, reported Reuters.
The deal, announced last month, was expected to face a tough antitrust review even though the two companies do not compete directly in any market, according to experts.

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    Large mergers and acquisitions have come under intense antitrust scrutiny, and lowering healthcare costs has been an important strategic mission for the Biden Administration.

    Related: DOJ Sues To Block UnitedHealth’s Bid For Change Healthcare

    UnitedHealth earlier this month completed its acquisition of Change Healthcare , after over a year of antitrust scrutiny.

    Acquiring Signify Health will enable CVS, which operates a pharmacy chain, a health insurance business and offers pharmacy benefit management services, to provide further care management for at-home patients.

    The deal is expected to close in the first half of 2023, CVS said in a filing on Thursday.

    Signify offers technology and analytics to help with at-home care for patients. It has said its services can help identify potential health risks and gaps in care.