1. Acquisitions, Divestitures & Mergers

CVS Health completes acquisition of Oak Street Health

WOONSOCKET, R.I. — CVS Health announced Tuesday that it has completed its acquisition of 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.

On February 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 $5.0 billion from a term loan agreement entered into on May 1, 2023, and existing cash and available resources. CVS Health is committed to maintaining its current credit ratings.

Oak Street Health will continue to operate as a multi-payor primary care provider as part of CVS Health.

The acquisition will be further discussed during CVS Health’s first quarter 2023 earnings conference call with analysts and investors on May 3, 2023, at 8 a.m. ET.

The post CVS Health completes acquisition of Oak Street Health appeared first on MMR: Mass Market Retailers.

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