1. Acquisitions, Divestitures & Mergers

CVS Health completes acquisition of Oak Street Health

Written by Posted on Less than 0 min read

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.

View Original Article
Member since
Mass Market Retailers provides compelling news and insights from across the omnichannel retail spectrum. https://www.massmarketretailers.com
Do you like MMR's articles? Follow on social!

More from MMR

  1. Department & Category

Food Lion To Go expands to 25 additional stores

SALISBURY, N.C. — Food Lion is expanding of its Food Lion To Go grocery pick-up service to 25 more stores in the Carolinas, the company said Monday. The move means Food Lion to Go pickup or home delivery is now available in 86% of its 10-state operating area. Food Lion is offering shoppers their first […]
2 min read
0
  1. Stores & Formats

Bed Bath & Beyond closing 87 more stores

NEW YORK —Bed Bath & Beyond said today it is closing an additional 87 stores, as the retailer seeks to consolidate its assets ahead of a possible bankruptcy filing. The company confirmed the closures in a statement, adding it was also closing all Harmon health and beauty store locations. “As we work with our advisors […]
< 1 min read
0
  1. Trends & External Forces

Walmart Health to enter Oklahoma

BENTONVILLE, Ark.  — Four Walmart Health centers are opening in the Oklahoma City area this year, Walmart said today. The openings mark the third state Walmart Health is entering in 2024, in addition to Missouri and Arizona. It has already established a presence in Texas. “We are thrilled to announce the expansion of Walmart Health […]
< 1 min read
0
  1. Channel: Drug

Walgreens reveals unprecedented deals for myW Days

DEERFIELD, Ill. — Walgreens first-ever myW Days member event is coming July 23 through July 29 and myWalgreens members can earn unprecedented bonus offers, personalized deals and Walgreens Cash rewards across the entire store. As a thank you to its myWalgreens members for their loyalty, Walgreens will offer the highest Walgreens Cash rewards earnings opportunities to date. […]
3 min read
0
  1. Shopper & Customer

NRF: Organized retail crime a growing threat

WASHINGTON – Organized retail crime (ORC) is a big problem for the U.S. retail industry, and a new report by the National Retail Federation suggests it is getting worse. “Organized retail crime has been a major concern for the retail industry for decades, endangering store employees and customers, disrupting store operations and inflicting billions in […]
2 min read
0
  1. Partnerships & Alt Profit

NACDS Foundation commits $900,000 to Project Lifeline

ARLINGTON, Va. – The National Association of Chain Drug Stores (NACDS) Foundation today announced the national expansion of Project Lifeline, a 15-month community partnership and research program led by the University of Pittsburgh’s Program Evaluation and Research Unit (PERU) to address substance use disorder (SUD). The NACDS Foundation is committing $900,000 to the project extension. […]
2 min read
0
  1. Channel: Mass

Target investing in capacity to deliver ‘affordable joy’ to customers

MINNEAPOLIS — Target Corp. will spend up to $5 billion this year to secure its long-term growth potential. The investment will focus on helping the retailer deliver “affordable joy” to customers and renewing its focus on deal-conscious shoppers, the company said last month during its annual get-together with the financial community in New York. “Investments […]
2 min read
0
  1. Trends & External Forces

NRF economist offers upbeat forecast for year

WASHINGTON – Despite inflation and high interest rates, National Retail Federation chief economist Jack Kleinhenz is predicting that a recession is unlikely and the economy will see slight growth in 2023. “A month into 2023, the economy is facing stiff headwinds and – with the exception of easing inflation – will likely face more challenges […]
2 min read
0
  1. Channel: Drug

Roxanne Flanagan leaving post at Walgreens

DEERFIELD, Ill. — Roxanne Flanagan, SVP, Chief Supply Officer at Walgreens announced Tuesday on her LinkedIn page that she is leaving the company. She joined Walgreens in 1993. After holding field leadership positions, she moved to the Walgreens corporate office in 2009 to lead pharmacy and retail programs. Roxanne Flanagan   In 2016, Roxanne joined […]
2 min read
0
  1. Channel: Grocery

Industry mourns the passing of H-E-B’s Robert Morton

SAN ANTONIO — Robert Morton, an innovative leader who worked as the director of healthy living at H-E-B, suddenly passed away while attending the Expo West show.  He was 68 years old. The unwavering commitment that Morton had to advancing health and well-being had a profound impact on the lives of a great number of […]
< 1 min read
0
  1. Department: Food

DG reaches milestone in produce rollout

GOODLETTSVILLE, Tenn. — Dollar General this week reached a milestone in the rollout of fresh fruits and vegetables to its stores. More than 5,000 of its locations now carry a produce assortment that includes tomatoes, onions, apples, strawberries, potatoes, sweet potatoes, lemons, limes, and salad mixes. Dollar General said it now offers produce in more […]
2 min read
0
  1. Trends & External Forces

Rite Aid Healthy Futures supports youth mental health

ETTERS, Pa. – Rite Aid Healthy Futures has committed $1.25 million in grant funding to six leading youth mental health organizations, joining the response to a generational crisis that has ravaged communities and highlighted the need for increased investment and attention. Working with and learning from the top leaders in the field of youth mental […]
5 min read
0
  1. Associates & Employees

HRG adds Beth Maas to its owners group

WAUKESHA, Wis. – HRG has added Beth Maas, SPHR, to the company’s owners group, effective January 1, 2024. Maas, HRG’s director of human resources, has been with the company since 2006. She joins Sean Grudzinski, product research and analysis manager, Steve Brester, director information technology, Julie Bonnell, vice president operations, Dave Wendland, vice president strategic […]
< 1 min read
0
  1. Department: HBC

Another 250 Sephora at Kohl’s shops slated to debut

MILWAUKEE — Kohl’s Corp. announced it is adding 250 full-size Sephora at Kohl’s locations this year. With the expansion, the partners will reach their initial goal of introducing the 2,500-square-foot Sephora at Kohl’s shops at more than 850 Kohl’s locations. Kohl’s also said it expects to have 50 smaller-format Sephora at Kohl’s shops in its […]
2 min read
0
  1. Channel: Grocery

Ahold Delhaize’s chief sustainability officer to retire

ZAANDAM, the Netherlands — Ahold Delhaize chief legal officer and chief sustainability officer Jan Ernst de Groot plans to retire from those posts effective May 31, the company said. Following Ernst’s decision, the company has decided to create a dedicated role for Sustainability in the Executive Committee. Linn Evans, currently Chief Legal Officer and General […]
2 min read
0
  1. Trends & External Forces

CDC study underscores pharmacy’s irreplaceable role

ARLINGTON, Va. – A new study released by the Centers for Disease Control and Prevention (CDC) on April 4 further illustrates the irreplaceable role of pharmacy throughout the COVID-19 pandemic — and demonstrates how pharmacies can be further leveraged to meet the broader health and wellness needs of the most vulnerable Americans. In total, pharmacies have administered […]
3 min read
0
  1. Corporate Strategy

WBA names Minnix EVP and global chief legal officer

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) has named Lanesha Minnix the company’s executive vice president (EVP) and global chief legal officer. Minnix, most recently EVP, general counsel and corporate secretary for Ecolab, Inc., will assume her new role with WBA on April 15. Lanesha Minnix Minnix, who will report to WBA CEO Tim Wentworth […]
2 min read
0
  1. Retailer Media

H-E-B tops dunnhumby RPI for 2022

CHICAGO –– H-E-B has regained the leadership position in the sixth annual dunnhumby Retailer Preference Index (RPI), an examination of the U.S. grocery market released today by data science firm dunnhumby. Costco Wholesale holds the second position in this year’s index, followed by Amazon. Wegmans held the fourth position for the third consecutive year. Rounding […]
3 min read
0
5
  1. Trends & External Forces

Rite Aid to divest most Health Dialog assets

PHILADELPHIA — Rite Aid Corp. today announced that it has entered into an asset purchase agreement (APA) for the partial sale of its Health Dialog business to Carenet Health (Carenet), a provider of healthcare engagement, clinical support, telehealth and advocacy solutions. Health Dialog provides personalized population health solutions to improve the health of members while […]
2 min read
0
  1. Trends & External Forces

CRN relaunches Vitamin D & Me website

WASHINGTON — The CRN Foundation has relaunched its Vitamin D & Me! (VD&M) website as an educational site for consumers to learn about the broad importance of vitamin D in health and wellness, transitioning from its original purpose as a source of information on vitamin D in relationship to COVID-19 and immune health. The website was […]
2 min read
0
Next