CVS Health Stock (NYE: CVS) has confirmed its acquisition of Oak Street Health (OSH) in an all-cash deal worth $10.6 billion. The deal is expected to close later this year and is seen as a major step forward in improving healthcare outcomes and reducing costs for patients, particularly in underserved communities.
Details of the Deal
- The all-cash deal will be worth $10.6 billion at $39 per share
- CVS Health President and CEO Karen S. Lynch has commented on the acquisition, saying that it will create the premier value-based primary care solution
- Over half of OSH’s health centers are located in underserved communities, providing an opportunity for CVS to improve healthcare in these areas
CVS Beats Q4 Expectations
- CVS announced its fiscal Q4 results with revenues of $83.8 billion, up 9.5% YoY
- Adjusted earnings came in at $1.99 per share, surpassing analysts expectations of $1.92
- For FY23, adjusted EPS is expected to come in between $8.70 and $8.90, versus the consensus estimate of $8.86
The acquisition of Oak Street Health and the positive Q4 results show that CVS is continuing to grow and evolve in the healthcare industry. This deal is expected to bring new opportunities and improve healthcare outcomes for patients in underserved communities.
