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Oak Street Health Raises Guidance on New Center Openings

Chicago-based Oak Street Health, a network of primary care centers for adults on Medicaid, said Monday it was increasing its full-year guidance for new center openings as well as revenue. The company opened its 100th location last week, a year after going public. It operates centers in 18 states. 

CEO Mike Pykosz acknowledged that the company encountered “medical cost headwinds” during the second quarter, which resulted in negative EBITDA of $53 million. That being said, “we are confident in the economics of our business in 2022 and beyond.”  

Based on this confidence, Oak Street is increasing its new center guidance from 38-42 to 46-48 new centers for the year, Pykosz said. CFO Tim Cook said the company was raising its revenue guidance for full-year 2021 by 5% to 1.4 billion. 


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).

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