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.

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

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

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The business has access to and conducts home visits.

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

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

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

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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

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

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