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Health Tech: More in-home care cash

August 05, 2022

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Sarah Pringle

Hi, it’s Sarah. Erin is planing a trip to my home abroad to explore the Tetons through next Tuesday. I’m going to be in the concrete jungle. As always, write if you ask me with any tips, deal news or feedback!

Illustration of a stethoscope with a high price tag
Illustration: Eniola Odetunde/Axios

Goldman Sachs and Deutsche Bank are engaged by Dallas-based Signify Health for financial suggestions about its strategic alternatives process, sources tell Sarah.

Driving the news headlines: About 18 months after New Mountain Capital took medical tech company public, the Wall Street Journal wrote on Tuesday that Signify was “dealing with bankers” to explore options including a sale.

  • Signify, a technology-driven value-based care enabler, could draw interest from both private equity and managed care providers, the report said.

Catch up fast: Signify raised $564 million in its February 2021 IPO.

  • Almost per year to the date following its public market debut, Signify struck a $250 million deal to get Caravan Health, which includes accountable care organizations in order to take risks and curb Medicare spending.
  • Last month, Signify unveiled plans to wind down its Episodes division and leave a bundled payment program, saying it planned to spotlight its profitable and growing home and community services division, plus Caravan.

By the numbers: Signify shares popped on the news headlines, pushing its market cap to about $4.5 billion, but are down slightly today.

  • That’s down from the market capitalization of $7.12 billion when it debuted on the general public markets this past year.
  • Shares are through to the entire year, but before the report, had lost 25%-plus since its IPO.

Signify and Goldman declined to comment, while a DB representative didn’t return a obtain comment.

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