CVS, a pharmacy chain, acquires Signify, a home health company, for $8 billion.

The pharmacy chain claimed that the deal entails purchasing the business at a share price of $30.50.

Both companies boards have already given their approval for the change.

By signing up with Signify, CVS has access to the network of clinical physicians, nurses, and physician assistants.

The business has access to and conducts home visits.

This year, nearly 2.5 million people are anticipated to be connected to Signify Health clinicians both physically and virtually.

Lynch added that Signify would aid CVS in growing and creating new home healthcare product offerings.

Both CVS and Signify stated that they anticipate the transaction to close in 2023.

CVS was one of three pharmacy chains to receive orders for hundreds of millions of dollars last month related to the opioid crisis in Ohio

According to a judge in the case, CVS, Walgreens, and Walmart contributed to the crisis in two counties in the Cleveland area.