CVS finishes acquisition of Oak Street Health – Medical Economics
Pharmacy giant CVS Health announced it has finished its acquisition of Oak Street Health.
The May 2 announcement follows almost two months of paperwork to seal the $10.6 billion deal, in which CVS Health paid $39 share for the company, which saw 224,000 patients in 2022. The company reported total revenues of $2.216 billion for 2022, up 51% from the year before, with a net loss of $509.7 million.
Oak Street Health will continue to operate as a multi-payor primary care provider as part of CVS Health.
“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,” CVS said in its official news release.
As of the earlier announcement in February, Oak Street Health had about 600 primary care physicians and clinicians in 169 centers in 21 states. On May 2, CVS updated its figures, with a workforce of more than 300,000 people,…
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source: https://news.oneseocompany.com/2023/05/02/cvs-finishes-acquisition-of-oak-street-health-medical-economics_2023050244351.html
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