Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$10.6B CVS Deal for Oak Street Health is Now Official
In discussions for the past several weeks, the CVS Health acquisition of Chicago-based Oak Street Health is now official. The two companies announced Wednesday that CVS will acquire Oak Street Health in an all-cash transaction at $39 per share, representing an enterprise value of approximately $10.6 billion.
Oak Street Health is a leading multi-payor, value-based primary care company focused on seniors. It employs approximately 600 primary care providers and operates 169 medical centers across 21 states. Growth projections call for 300-plus centers by 2026.
“Combining Oak Street Health’s platform with CVS Health’s unmatched reach will create the premier value-based primary care solution,” said CVS Health president and CEO Karen S. Lynch. “Enhancing our value-based offerings is core to our strategy.”
Post-closing, Oak Street Health CEO Mike Pykosz will continue leading the company, which will become part of CVS’ recently formed Health Care Delivery organization.
- ◦Sale/Acquisition