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M&A
CVS completes Oak Street Health acquisition
Preventive Healthcare
May 2, 2023
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Preventive Healthcare

Preventive Healthcare

May 2, 2023

CVS completes Oak Street Health acquisition

M&A

  • Drugstore giant CVS completed the acquisition of primary care provider Oak Street Health, in an all-cash transaction for USD 39 per share, amounting to an enterprise value of ~USD 10.6 billion. The acquisition, which was first announced in February 2023 , intends to grow CVS Health's value-based primary care platform and enhance long-term health outcomes while lowering costs, with an emphasis on marginalized populations. 

  • The transaction was financed through a USD 5 billion term loan agreement and existing cash and resources.

  • Following the acquisition, Oak Street Health will continue its operations as a multi-payer primary care provider within CVS Health. The acquisition is expected to be discussed further during CVS Health's Q1 2023 earnings conference call.

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