Amedisys (AMED), Allscripts (MDRX), Others Mentioned as 'Read-Throughs' at Cowen on Signify Health (SGFY) Bidding War

August 22, 2022 10:21 AM EDT
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Cowen analyst Gary Taylor offered potential read-throughs as the bidding war for Signify Health, Inc. (NYSE: SGFY) is going "very, very well" with Amazon (NASDAQ: AMZN) joining CVS (NYSE: CVS) as potential bidders and UnitedHealth (NYSE: UNH) offering more than $30 per share.

The analyst commented, "Despite the proposed 2023 Medicare home health reimbursement cut, AMED (Taylor, Market Perform, $118.05) and other home health providers suddenly look like relatively “cheap” assets of interest for MA plans & other integrated health insurers. Clearly part of the play here is also expanding clinical networks & access to clinical data. The largest health plans already have the greatest amount of clinical data, but healthcare providers and companies such as CHNG (Rhyee, Market Perform, $24.76) (the DOJ is challenging UNH's proposed acquisition of CHNG), IQV (Not Covered), MCK (Rhyee, Outperform, $371.01), MDRX (Rhyee, Outperform, $17.17), and Nextgen (NXGN, Not Covered) all have significant data repositories of various forms."

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