SGFY - SGFY STOCK NEWS

Signify Health (NYSE: SGFY) has completed the acquisition of Caravan Health for $250 million, comprising $190 million in cash and $60 million in stock. This strategic move expands Signify's capabilities in value-based healthcare, allowing it to manage approximately $10 billion in total medical spend. The acquisition aims to support community hospitals and healthcare providers in adopting advanced payment models, enhancing health equity and care management.

Signify Health (NYSE: SGFY) has agreed to acquire Caravan Health for approximately $250 million, combining cash and stock. This transaction aims to enhance both companies' capabilities in value-based healthcare, managing approximately $10 billion in total medical spend. The merger will create one of the largest networks of at-risk providers in the U.S., addressing healthcare access issues for medically underserved populations. It is expected to close in Q1 2022 and is projected to be accretive to revenue and adjusted EBITDA.

Signify Health (NYSE: SGFY) announced its fourth quarter 2021 financial results will be released after market close on March 2, 2022, followed by a conference call at 8:30 am ET on March 3, 2022. The company focuses on a value-based healthcare platform using advanced analytics and technology to enhance patient outcomes. A pre-registration is required for participating in the conference call, with a webcast available live on their investor relations website. The replay of the webcast will be accessible until June 3, 2022.

Signify Health, Inc. (NYSE: SGFY) has launched the Signify Health Partner Program, uniting seven initial partners to enhance value-based care. This initiative connects providers, payers, and technology, focusing on home-based healthcare solutions. In 2022, the company engaged over 1.4 million people through in-home evaluations and managed over 1 million episodes of care. The program aims to address gaps in care and improve health outcomes through innovative partnerships, emphasizing a whole-person care approach.

The U.S. District Court for Delaware has issued a preliminary injunction preventing Marcus Lanznar, a former executive at CareCentrix, from working at Signify Health (NYSE: SGFY) into 2022. The court found a strong likelihood that Lanznar violated his employment agreement by joining Signify Health. CareCentrix's corporate espionage case against Signify will proceed to full discovery and trial. The lawsuit alleges Lanznar shared strategic information with Signify while still employed by CareCentrix, resulting in improper competition.

The U.S. District Court for Delaware has granted a preliminary injunction preventing Marcus Lanznar, a former executive of CareCentrix, from working at Signify Health (SGFY) into 2022. The court found a strong likelihood that Lanznar violated his non-compete agreements with CareCentrix. This ruling allows CareCentrix to pursue its case against Signify, alleging corporate espionage and theft of trade secrets. The case centers on Lanznar's actions while still employed by CareCentrix, where he allegedly shared confidential information with Signify and drew salary from both companies.

Signify Health (NYSE: SGFY) announces plans to open a new service center in Oklahoma City by February 2022, creating over 200 jobs. The company is recruiting for 50 positions to start in early February. A recruiting event will be held on December 15, 2021 at the Hilton Garden Inn Edmond. This expansion emphasizes Signify Health's commitment to value-based healthcare, leveraging technology and analytics to improve health outcomes. Oklahoma City is seen as a strategic location due to its qualified workforce and supportive business environment.

Signify Health reported strong Q3 2021 financial results, with revenues of $199.2 million, a 29% increase year-over-year. The GAAP net income was $29.3 million, rebounding from a net loss of $13.3 million in Q3 2020. Non-GAAP adjusted EBITDA surged 46% to $42.0 million.

For the nine-month period, total revenue grew 42% to $592.0 million, though the net loss widened to $22.5 million. The company raised its full-year revenue guidance to between $755 million and $770 million, supported by significant growth in Home and Community Services.

Signify Health (NYSE: SGFY) has received NCQA Measure Certification for its HEDIS measurement methods. This certification allows the company to effectively identify members needing preventive screenings and to enhance care management. The NCQA's endorsement validates Signify's capabilities in diabetes care, kidney health evaluation, and colorectal cancer screening. As demand for at-home preventive screenings rises, particularly among seniors, this certification is timely for Signify Health, aligning with its mission to improve health outcomes at home.