Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CVS Completes $10.6B Acquisition of Oak Street Health
CVS Health said Tuesday it had completed its $10.6-billion acquisition of Chicago-based Oak Street Health. The all-cash deal was announced this past February.
The acquisition will broaden CVS Health’s value-based primary care platform and significantly benefit patients’ long-term health by improving outcomes and reducing costs – particularly for those in underserved communities, the company said.
“Combining Oak Street Health’s platform with CVS Health’s unmatched reach will create the premier value-based primary care solution,” CVS Health president and CEO Karen S. Lynch said in February.
CVS Health financed the transaction with borrowings of $5 billion from a term loan agreement entered into on May 1 and existing cash and available resources.
Oak Street Health will continue to operate as a multi-payor primary care provider as part of CVS Health. It employs approximately 600 primary care providers and has 169 medical centers across 21 states.
- ◦Sale/Acquisition
