CVS Health completes acquisition of Oak Street Health
CVS Health has acquired Oak Street 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, the company said.
[Read more: CVS Health reportedly inching closer to Oak Street Health acquisition for $10.5B]
On Feb. 8, 2023, CVS Health announced it entered into a definitive agreement to acquire Oak Street Health in an all-cash transaction for $39 per share, representing an enterprise value of approximately $10.6 billion. The company financed the transaction with borrowings of $5 billion from a term loan agreement entered into on May 1, 2023, and existing cash and available resources. CVS Health said it is committed to maintaining its current credit ratings.
[Read more: CVS Health to acquire Oak Street Health for $10.6B]
Oak Street Health will continue to operate as a multi-payer primary care provider as part of CVS Health.