1. Channel: Drug

CVS seeks investor for new Oak Street clinics

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NEW YORK — CVS Health is seeking a private equity partner to fund growth at Oak Street Health, a primary care provider the chain purchased a year ago, Bloomberg News reported on Thursday.

CVS has been working with financial advisers to help find capital to back new clinics that will be opened by Oak Street, the report said, citing people familiar with the matter.

The deliberations are in a preliminary stage and the structure could change, while there is no guarantee a deal will be reached, according to the report.

The drug chain had reported in February that it planned to nearly double the business to 300 clinics by 2026 and aimed to grow the number of Oak Street patients over time.

The post CVS seeks investor for new Oak Street clinics appeared first on MMR: Mass Market Retailers.

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