Signify is up for sale in an auction that could value it at more than $8 billion, the Journal reported. The company will hold a board meeting Monday to discuss the bids, and final bids are due around Labor Day, according to the Journal.
Signify, which provides technology to help with in-home care, has a market cap of roughly $6.56 billion.
UnitedHealth has submitted the highest bid for Signify, in excess of $30 a share, while Amazon’s offer is close behind, Bloomberg reported.
The New York Stock Exchange welcomes Signify Health (NYSE: SGFY), today, Thursday, February 11, 2021, in celebration of its IPO. To honor the occasion, Kyle Armbrester, CEO, joined by John Tuttle, NYSE Vice Chairman and Chief Commercial Officer, rings The Opening Bell®.
A deal would push Amazon further into health care. The retail behemoth last month announced it would purchase 1LifeHealthcare, the parent company of primary-care clinic company One Medical, for $3.9 billion.
Amazon’s stock closed down 3.6% on Monday.
Representatives from Amazon and Signify Health declined to comment.