(Reuters) – CVS Health Corp is planning to buy Signify Health Inc as it looks to expand in home-health services, the Wall Street Journal reported on Sunday, citing sources.
Initial bids are due this coming week and CVS is planning to accept one, the reportsaid.
WSJ reported last week that Signify Health is working with bankers to explore strategic alternatives including a sale.
Signify has a market cap of around $4.66 billion based on its stock closing price on Friday, according to Reuters calculations.
CVS and Signify did not immediately respond to requests for comment outside business hours.
(Reporting by Ann Maria Shibu in Bengaluru; Editing by Lisa Shumaker)