Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Downtown  + Healthcare  | 

CVS Reportedly on the Verge of $10.5B Deal for Oak Street Health

CVS Health is close to an agreement to acquire Chicago-based Oak Street Health Inc. for about $10.5 billion including debt, the Wall Street Journal reported Tuesday. The deal would rapidly expand CVS’ footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter. 

The companies are discussing a price of about $39 a share, the WSJ reported. The deal, assuming it goes through, could be announced as soon as this week. CVS is scheduled to report earnings on Wednesday. 

Since going public in August 2020, Oak Street Health has been on an expansion frenzy, the Chicago Business Journal reported. As of Sept. 30, the company said it operated 161 centers in 21 states, compared with 110 centers as of a year earlier. 

In a statement, Oak Street Health said Tuesday its policy is “not to comment on unusual market activity.”  


Inside The Story

Oak Street Health

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition