CVS Health to buy Oak Street Health for $9.5 billion

CVS Health said connected Wednesday it would bargain superior attraction supplier Oak Street Health for astir $9.5 cardinal successful currency arsenic the pharmacy elephantine looks to foray into the urgent attraction business.

The company, which besides operates a wellness security portion and a pharmacy benefits manager, said it volition wage $39 per Oak Street Health share, a astir 16% premium to the stock's past closing price, to get hundreds of its clinics and doctors offices.

With the acquisition of Oak Street, CVS volition get power implicit 160 superior attraction centers that service those insured nether the U.S. government's Medicare program, which is for radical aged 65 years and older oregon who suffice due to the fact that they person a disability.

Primary attraction centers typically connection regular wellness screenings, preventive medicine arsenic good arsenic diagnosis, and absorption and attraction of a wide assortment of chronic wellness problems.

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