who owns oak street health
CVS Health owns Oak Street Health.
Who owns Oak Street Health now?
- Oak Street Health is owned by CVS Health Corporation, the large U.S. healthcare and pharmacy company.
- CVS completed an all-cash acquisition of Oak Street Health in May 2023 for about 10.6 billion dollars, paying 39 dollars per share.
- After the deal, Oak Street Health became part of CVS Health’s healthcare delivery arm but continues to operate as a multi‑payer primary care provider focused on Medicare patients.
Quick Scoop on the deal
- Purpose of the acquisition: CVS aimed to expand its value‑based primary care footprint, especially for seniors on Medicare and in underserved communities.
- Scale: The acquisition brought roughly 160–170+ primary care centers in about 21 states into the CVS Health ecosystem.
- Leadership: Oak Street Health’s co‑founder and CEO Mike Pykosz stayed on to lead the primary care business within CVS Health after the transaction.
Before CVS bought Oak Street Health
- Oak Street Health was a publicly traded company listed on the New York Stock Exchange under the ticker OSH.
- Major shareholders before the sale included private equity funds affiliated with Newlight Partners and General Atlantic, plus certain board members, who together owned around 45 percent and agreed to support the CVS deal.
Why this is a trending topic
- The acquisition is part of a broader trend since around 2022–2024 of big retail and insurance players buying primary care groups to control more of the patient journey and healthcare spending.
- For patients, this means Oak Street Health clinics remain branded as Oak Street but sit under the CVS Health corporate umbrella, alongside CVS pharmacies, MinuteClinics, and other health services.
HTML table summary
| Aspect | Details |
|---|---|
| Current owner | CVS Health Corporation | [5][3]
| Deal value | All-cash transaction, approx. $10.6 billion at $39 per share | [3][5]
| Deal completion | Acquisition completed in May 2023 | [5][3]
| Business focus | Value-based primary care for adults on Medicare, multi-payer model | [7][3]
| Number of centers | Roughly 160–170+ centers across about 21 states (and expanding) | [1][9][7]
| Leadership | Mike Pykosz continues as CEO within CVS Health’s care delivery arm | [6][1]