New York (S&P Global Ratings) Sept. 6, 2022--CVS Health Corp. (BBB/Positive/A-2) announced yesterday it is acquiring home health care company Signify Health Inc. for about $8 billion. The acquisition is in line with our expectations for CVS to continue to broaden beyond brick-and-mortar pharmacy into more diversified health care services. Specifically, Signify has a network of more than 10,000 clinicians nationwide, some of which make house-calls, enhancing CVS Health's connection to consumers at home and as part of follow-up care. CVS says it intends to fund the transaction with existing balance sheet cash and available liquidity resources. It is our understanding the deal is leverage neutral with no material additional debt. We note the company's S&P Global Ratings lease-adjusted leverage
