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Chicago Tribune
Chicago Tribune
Business
Lisa Schencker

CVS buying Chicago’s Oak Street Health in deal valued at $10.6 billion

CVS Oak Street Oak Street Health Chicago CVS Health Walgreens VillageMD

CHICAGO — CVS Health plans to buy Chicago-based Oak Street Health in a $10.6 billion deal that aims to expand CVS’s reach into primary care.

The all-cash deal was announced early Wednesday morning, with CVS Health saying it would pay $39 a share. The acquisition is expected to close later this year, pending regulatory approval.

The companies said in a news release that bringing CVS and Oak Street together will improve “patients’ long-term health by reducing care costs and improving outcomes — particularly for those in underserved communities.”

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