CVS is buying value-based primary care provider Oak Street Health for $10.6 billion, the companies announced Wednesday, in a deal that will push CVS further into the direct delivery of care.
The price tag for Oak Street, which serves mostly seniors on Medicare, represents $39 a share, a roughly 50% premium to its closing price on Monday.
In a statement, the companies said they expect the transaction to close this year, subject to closing conditions. However, it will likely face regulatory scrutiny. One antitrust advocacy group is already opposing the deal.Healthcare Dive