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Search resuls for: "Oak Street Health"


18 mentions found


☆ CVS Makes $10 Billion Bet on Seniors
  + stars: | 2023-02-08 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Managed-care companies absolutely love your grandma and grandpa. They love them so much they don’t want to just insure them, they want to provide care for them, too. That largely explains why CVS announced Wednesday it will acquire Oak Street Health for $10.6 billion. Oak Street, which has more than 160 centers across 21 states, focuses on the care of patients enrolled in Medicare. Founded in 2012, it is among a group of primary-care physician chains that have benefited from rapid growth in a new approach to medicine known as value-based care, which links payment to value rather than for each service a clinic provides.
☆ CVS Reaches $10.6 Billion Deal to Buy Clinic Owner Oak Street Health
  + stars: | 2023-02-08 | by ( Anna Wilde Mathews | Sharon Terlep | ) www.wsj.com   time to read: 1 min
CVS Health Corp. agreed to acquire Oak Street Health Inc. for about $10.6 billion including debt, in the latest sign of the growing tie-ups between health insurers and primary-care doctors. The all-cash deal, for $39 a share, is expected to close in 2023, the companies said Wednesday. The Wall Street Journal reported Monday the companies were nearing a deal.
☆ CVS just struck a $10.6 billion deal with Oak Street Health to become a one-stop shop for healthcare
  + stars: | 2023-02-08 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
CVS Health is buying Oak Street Health for $10.6 billion, its biggest move into primary care yet. But the Oak Street deal will add full-service medical clinics to what CVS offers. Competition is heating up among major healthcare companies to be the first place you go when you need medical care. Oak Street Health CEO Mike Pykosz Oak Street HealthCVS will pay a premium for Oak Street compared to the clinic operator's IPO price. In Wednesday's all-cash deal, CVS valued Oak Street at $39 a share.
☆ CVS scales up its vertical ecosystem in $10.6B Oak Street Health deal
  + stars: | 2023-02-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCVS scales up its vertical ecosystem in $10.6B Oak Street Health dealCVS Health CEO Karen Lynch joins 'Closing Bell' to discuss CVS's latest primary care deal with Oak Street Health, mapping out the end of Covid, and providing women with health care products, including abortion pills.
☆ CVS digs into primary care with $9.5 bln Oak Street Health deal
  + stars: | 2023-02-08 | by ( ) www.reuters.com   time to read: +2 min
Feb 8 (Reuters) - CVS Health Corp (CVS.N) said on Wednesday it would buy Oak Street Health Inc (OSH.N) for about $9.5 billion in cash, expanding its healthcare services by adding hundreds of primary care clinics mostly for older people. Shares of the primary care firm rose 5% before the bell. The Oak Street deal echoes similar moves by rivals into primary care. Walgreens Boots Alliance (WBA.O) and Cigna (CI.N) have made investments in primary care provider VillageMD, and Amazon (AMZN.O) announced a $3.49 billion deal last year to buy One Medical (ONEM.O) to expand into the space. UnitedHealth Group Inc (UNH.N) also runs urgent care, primary care and surgical care centers.
☆ The arms race for doctors is on. CVS is hoping a $10.6 billion deal will help it compete with Amazon and UnitedHealthcare.
  + stars: | 2023-02-08 | by ( ) www.businessinsider.com   time to read: +5 min
CVS Health just said it wants to buy primary-care company Oak Street Health for $10.6 billion. CVS Health is finally entering the arms race among health insurers and big retailers to employ doctors. Oak Street gets most of its revenue from relationships with CVS-owned Aetna rivals Humana, Centene, and UnitedHealthcare. And though Aetna is a big Medicare Advantage player, it also has millions of members who get insurance through their employers. Mike Pykosz, Oak Street Health CEO Oak Street HealthGuertin also noted that the improved health outcomes and better experience provided in Oak Street clinics would help Aetna hold onto its Medicare Advantage patients.
☆ CVS pays exorbitant $10 bln price to diversify
  + stars: | 2023-02-08 | by ( Robert Cyran | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 8 (Reuters Breakingviews) - CVS Health (CVS.N) keeps marching ahead with its plan to create an American healthcare colossus. Its latest acquisition involves paying $10.6 billion, including debt, to buy Oak Street Health (OSH.N). CVS is buying home-healthcare assessment provider Signify Health (SGFY.N) for $8 billion, and now Oak Street, to beef up its capabilities. CVS is valuing each Oak Street healthcare provider at more than $17 million, and each patient at about $67,000. In September, CVS agreed to buy Signify Health, a home healthcare provider mostly for Medicare patients, for $8 billion.
☆ Stocks making the biggest moves midday: CVS, Fortinet, Lumen Technologies, Alphabet & more
  + stars: | 2023-02-08 | by ( Pia Singh | ) www.cnbc.com   time to read: +4 min
Check out the companies making headlines in midday trading Wednesday:Lumen Technologies — Shares fell 22.5% after the cloud network data company reported a fourth-quarter loss of about $3.1 billion. CVS Health — CVS Health gained 4.6% after the company surpassed profit and sales expectations in its latest quarterly results. The New York Times Company — Shares for the media organization popped more than 14% after its fourth-quarter earnings beat analyst estimates. The company reported earnings of 59 cents per share, which was greater than a Refinitiv estimate of 43 cents per share. Fortinet posted earnings of 44 cents per share, while analysts expected 39 cents per share, according to StreetAccount.
☆ CVS Nearing $10.5 Billion Deal for Primary-Care Provider Oak Street Health
  + stars: | 2023-02-07 | by ( Anna Wilde Mathews | Lauren Thomas | Laura Cooper | ) www.wsj.com   time to read: 1 min
CVS, the parent of its namesake pharmacies, is seeking to move deeper into the direct provision of healthcare. CVS Health Corp. is close to an agreement to acquire Oak Street Health Inc. for about $10.5 billion including debt, a deal that would rapidly expand the big healthcare company’s footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter. The companies are discussing a price of about $39 a share, the people said. The deal, if it goes through, could be announced as soon as this week, they said. CVS is scheduled to report earnings on Wednesday.
☆ Stocks making the biggest moves midday: Chegg, Hertz and Oak Street Health
  + stars: | 2023-02-07 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Check out the companies making headlines in midday trading Tuesday. Oak Street Health — Shares surged more than 30% after the Wall Street Journal reported CVS Health was close to an agreement to buy the primary-care provider for $10.5 billion. Sweetgreen — Shares fell about 6% after Cowen downgraded the salad chain's stock to market perform from outperform, citing "deteriorating value perceptions." ZoomInfo — Shares of the software company fell 1.7% following the company's quarterly results for the latest period. Leggett & Platt — Shares fell 5% during midday trading after Leggett & Platt reported disappointing earnings after the market closed on Monday.
☆ Stocks making the biggest moves premarket: Chegg, Baidu, Bed Bath & Beyond, Hertz and more
  + stars: | 2023-02-07 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
The company gave first-quarter and full-year revenue guidance that was below analyst expectations, according to Refinitiv. Bed Bath & Beyond — Shares plunged 30% after Bed Bath & Beyond announced a public offering to raise roughly $1 billion. Hertz — Shares gained more than 4% after Hertz reported results that beat earnings per share and revenue expectations, according to FactSet. DuPont de Nemours — Shares declined 2% after DuPont de Nemours posted earnings results from its most recent quarter. Leggett & Platt — Shares fell more than 1% after Leggett & Platt reported disappointing earnings results, according to consensus expectations on FactSet.
☆ Goldman sees debt limit fight possibly hitting stocks this summer
  + stars: | 2023-01-30 | by ( Jesse Pound | ) www.cnbc.com   time to read: +2 min
The U.S. government hit its debt limit earlier this month, starting a countdown to when the Treasury Department will run out of resources . Goldman chief economist Jan Hatzius said in his "Weekly Kickstart" note that the looming debt ceiling fight this summer could have a significant impact on stocks. "Our economists expect the deadline to raise the debt limit will arrive between June and October. Market reactions to past debt limit episodes have been mixed. Hatzius' Goldman colleague Alec Phillips said in a follow-up note that, "we continue to believe the risk that Congress fails to raise the debt limit by the deadline is higher than at any point since 2011."
☆ Stocks making the biggest moves premarket: Oak Street Health, Frontline, Boeing and more
  + stars: | 2023-01-10 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +3 min
A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Oak Street Health – Shares of Oak Street Health surged 36% after a Bloomberg report that CVS is exploring options to buy the health care company for more than $10 billion. Frontline –The shipping stock surged more than 24% in premarket trading after Frontline announced that it was terminating its combination with Euronav. Boeing — The aerospace giant fell more than 2% after Morgan Stanley downgraded Boeing to equal weight from overweight, citing a lack of potential upside from current levels. Meanwhile, the firm upgraded competitor Royal Carribean, which added 0.3% in the premarket, to equal weight from underweight.
☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more
  + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.
☆ Jim Cramer's top 10 things to watch in the market Tuesday: Big Microsoft AI bet, defensive rotation
  + stars: | 2023-01-10 | by ( Jim Cramer | ) www.cnbc.com   time to read: +4 min
Microsoft and Alphabet are both Club stocks. Boeing (BA) downgraded to equal weight from overweight (hold from buy) at Morgan Stanley (MS). Wells Fargo upgrades AT & T (T) to overweight from equal weight (buy from hold); price target up to $22 per share from $17. On the seas, Morgan Stanley downgrades Norwegian Cruise Line (NCLH) to underweight from equal weight (sell from hold). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ CVS Health in talks to buy Oak Street Health - Bloomberg News
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +1 min
Jan 9 (Reuters) - CVS Health Corp (CVS.N) is exploring an acquisition of primary care center operator Oak Street Health Inc (OSH.N), Bloomberg News reported on Monday citing people familiar with the matter. Shares of Oak Street Health rose 27% in after-hours trading after closing 4.25% higher at $22.57 on Monday, earning the Chicago-based company a market cap of $5.5 billion. CVS declined to comment while Oak Street did not immediately respond to a Reuters request. Oak Street Health runs primary care centers across United States for recipients of Medicare, the U.S. government insurance program for Americans aged 65 and older, and has private equity firms such as General Atlantic and Newlight Partners among its shareholders. CVS had also expressed interest in expanding into the primary care space, and was reportedly among the bidders to acquire primary care provider Cano Health before backing out.
☆ Health-insurance upstart Clover touted enormous revenues from a new federal program to boost its Chamath Palihapitiya-backed SPAC deal. Now it's slashing its participation after results that one analy
  + stars: | 2022-11-30 | by ( ) www.businessinsider.com   time to read: +4 min
Clover Health bet big on a controversial new Medicare program with a huge revenue opportunity. Clover Health is slashing its footprint in a key federal program that the health-insurance upstart has bet big on since 2021. The direct-contracting program aims to lower costs for Medicare by changing up how doctors caring for traditional Medicare patients are paid. But Clover lost money during the first year of the program. This article was initially published on November 8 and has been updated with information about Clover's performance in the direct-contracting program in 2021.
☆ Billionaire investor Vinod Khosla lays out why changing how primary care is paid for could disrupt healthcare
  + stars: | 2022-10-24 | by ( Sarah Braner | ) www.businessinsider.com   time to read: +3 min
On Thursday, the billionaire investor Vinod Khosla spoke about reducing costs in healthcare. Vinod Khosla thinks the best way to disrupt healthcare is to change how it's paid for at the primary-care level. The billionaire investor and founder of Khosla Ventures said he thought that in the next decade, primary care should cost as little as $1 to $5 per visit. "If you change the definition of primary care from what is today's primary care, or urgent care mostly, to a much-broader definition where your hypertension is managed in primary care, where your diabetes is managed in primary care, you will see that take over and affect the core total cost of care downstream," he said. For instance, a company like Oak Street Health can operate primary care at a loss because it makes money if its patients stay healthy.
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