M&A Deal Summary

CVS Health Acquires Oak Street Health

On February 8, 2023, CVS Health acquired healthcare services company Oak Street Health for 1.1B USD

Acquisition Highlights
  • This is CVS Health’s 6th transaction in the Healthcare Services sector.
  • This is CVS Health’s 10th largest (disclosed) transaction.
  • This is CVS Health’s 18th transaction in the United States.
  • This is CVS Health’s 2nd transaction in Illinois.

M&A Deal Summary

Date 2023-02-08
Target Oak Street Health
Sector Healthcare Services
Buyer(s) CVS Health
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Centerview Partners (Financial)
Kirkland & Ellis (Legal)

Target

Oak Street Health

Chicago, Illinois, United States
Oak Street Health is a growing and innovative population health business operating primary care clinic focused on Medicare beneficiaries. Oak Street Health was founded in 2012 and is headquartered in Chicago, Illinois.

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Buyer(S) 1

Buyer

CVS Health

Woonsocket, Rhode Island, United States

Category Company
Founded 1996
Sector Healthcare Services
Employees219,000
Revenue 357.8B USD (2023)
DESCRIPTION
CVS Health office in Buffalo Grove, Illinois.
CVS Health office in Buffalo Grove, Illinois.

CVS Health operates retail pharmacies, and walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was founded in 1996 and is based in Woonsocket, Rhode Island.


DEAL STATS #
Overall 18 of 18
Sector (Healthcare Services) 6 of 6
Type (Add-on Acquisition) 12 of 12
State (Illinois) 2 of 2
Country (United States) 18 of 18
Year (2023) 1 of 1
Size (of disclosed) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 bswift

Chicago, Illinois, United States

bswift offers software and services that streamline benefits, HR and payroll administration for employers and public and private exchanges nationwide. bswift’s state-of-the-art cloud-based technology and outsourcing solutions significantly reduce administrative costs and time-consuming paperwork, making life easier for administrators and millions of consumers who enroll in benefits with bswift. bswift was founded in 2000 and is based in Chicago, Illinois.

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