- Amazon.com, Inc (NASDAQ:AMZN) has bid for healthcare company Signify Health, Inc (NYSE: SGFY) in an auction that could value it at $8 billion.
- A deal would mark Amazon's latest foray into the healthcare sector and its second time facing off against CVS Health Corp (NYSE:CVS).
- Signify's other prospective suitors included CVS and UnitedHealth Group Inc (NYSE:UNH).
- In July, Amazon agreed to snap 1Life Healthcare, Inc (NASDAQ:ONEM) for $3.9 billion.
- 1Life operates a primary-care practice under the name One Medical.
- CVS also had eyed the One Medical parent.
- Credit Suisse analyst A.J. Rice said, on the Amazon side, the possible bid comes on the heels of the ONEM announcement.
- Amazon's bid for SGFY could indicate a shift in strategy away from 'Build' and more towards 'Buy,' he said.
- Amazon is arguably the deepest pocketed of possible acquirers in the healthcare space, and their involvement could push acquisition prices higher and create a more competitive bidding environment, he noted.
- Given the general focus on 'Big Tech' amongst antitrust regulators, this transaction could also be scrutinized, even without market overlap in the traditional sense.
- He reiterated an Outperform rating on Amazon and a price target of $170.
- Price Action: AMZN shares traded lower by 3.52% at $133.35 on the last check Monday.
- Photo by Gerd Altmann from Pixabay
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