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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 249.97

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From: Glenn Petersen	8/22/2022 2:44:51 AM
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Amazon reportedly eyeing Signify Health as it continues push into healthcare by Nate Bek GeekWire on August 21, 2022 at 6:15 pmAugust 21, 2022 at 10:13 pm The Wall Street Journal reported Sunday that Amazon is among several suitors for Signify Health, which is for sale in an auction. The deal could value the healthcare provider at more than $8 billion, the Journal reported. An Amazon spokesperson said the company does not comment on speculation. CVS Health Corp. and UnitedHealth Group Inc. are among the other suitors for Signify Health, which provides technology to help with in-home care. Its customers are healthcare businesses, government-run programs, and others. Amazon last month said it plans to acquire primary care provider One Medical for $3.9 billion, one of its largest acquisitions to date as the company goes on a buying spree. Earlier this month it announced plans for a $1.7 billion acquisition of Roomba maker iRobot, which would push its annual spending on acquisitions to a new high. One key question is how much antitrust scrutiny Amazon will face with its recent acquisitions. The U.S. Federal Trade Commission made its new outlook on tech acquisitions clear with the announcement July 27 that it will attempt to block Facebook parent Meta from acquiring virtual reality fitness app Supernatural. FTC official John Newman scolded Meta for trying “to buy market position instead of earning it on the merits.” Amazon reportedly made it a strategic priority to disengage in any rumors or public speculation on its courting of One Medical. CVS was also vying to purchase the company. The dueling bids by Amazon and CVS are more evidence of the desire among big companies to expand further into health tech, STAT News reported. Signify’s market value at the time of reporting is nearly $5 billion. geekwire.com

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