Oak Street Jumps on CVS Deal

Oak Street Health (NYSE:OSH) shares surged after The Wall Street Journal reported CVS Health (NYSE:CVS) is nearing a $10.5 billion deal for the primary care provider.

If the deal goes through, it would give CVS access to primary care clinics that are geared toward seniors .

In January, a report from Bloomberg said CVS was preparing a $10B offer, only for the Axios to report eight days later than a deal was likely not in the cards.

As for Oak Street, the company announced today that in view of the unusual market activity in the Company’s stock, the New York Stock Exchange has contacted the Company in accordance with the Exchange’s usual practice. The Company stated that its policy is not to comment on unusual market activity.

Founded in 2012, Oak Street Health is a network of value-based primary care centers for adults on Medicare. With a mission of rebuilding healthcare as it should be, the Company operates an innovative healthcare model focused on quality of care over volume of services, and assumes the full financial risk of its patients.

Oak Street Health currently operates more than 160 centers across 21 states and is the only primary care provider to carry the AARP name. The Company is a winner of Energage's 2022 Top Workplaces USA award, was recognized by Inc. on its inaugural Best-Led Companies of 2021 list and was honored as a recipient of the 2022 and 2021 Joy in Medicine™ Health System Recognition Program by the American Medical Association.

Oak Street jumped $8.06, or 31%, to $34.02.