CVS Health is reportedly getting close to buying Oak Street Health for about $10.5 billion in a deal that further highlights the land grab to own the primary care market in the U.S.
Oak Street’s OSH stock was up about 33% in premarket trading on Tuesday, the day after a Wall Street Journal report said CVS may spend $39 a share to acquire Oak Street, which provides medical care to people covered by Medicare. Bloomberg had first reported that CVS was interested in buying the company in early January.
CVS, which already operates at least 1,100 clinics within its retail pharmacy stores and at Target locations, last year reportedly bid on One Medical and considered buying Cano Health CANO , according to analysts and media reports. The pharmacy giant also acquired Signify Health SGFY , a provider of home-health services, for $8 billion in September.
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