 | |
| Company type | Subsidiary |
|---|---|
| |
| Industry | Health care |
| Founded | 2012 |
| Founders |
|
| Headquarters | Chicago, Illinois, U.S. |
| Parent | CVS Health |
| Website | www |
Oak Street Health, Inc. is a health care network of primary care centers for older adults with Medicare. [1]
In May 2023, CVS Health acquired the company for $10.6 billion. [2]
Oak Street Health was founded in 2012 by Mike Pykosz, Griffin Myers and Geoff Price and is headquartered in Chicago, Illinois. [3] [4] [5] Oak Street Health is the only primary care provider selected by the AARP. [6] Oak Street Health operates in helping older adults stay healthy by providing preventive care, education and social activities to support overall health well-being. [7]
Oak Street Health has raised a total of $105.3M in funding over 4 rounds.[ citation needed ] In August 2020 Oak Street Health, went public and raised $328 million in its Initial Public offering. [8] [9] [10] The company offered 15.6 million shares at $21 per share on the New York Stock Exchange, where it was traded under the ticker “OSH.” [11]
In October 2021, Oak Street Health acquired RubiconMD, a healthtech company for $130 million, the deal enables Oak Street to integrate its care model with virtual specialty care of RubiconMD. [12]
On February 8, 2023 CVS Health announced it has entered into a definitive agreement to acquire Oak Street Health in an all-cash transaction at $39 per share, representing an enterprise value of approximately $10.6 billion. [13]
In September 2024, the company paid $60 million to settle a lawsuit for violating the federal Anti-Kickback Statute. [14]
Oak Street Health head office is based in Chicago, Illinois. It began operating in 2012. By January 2020, it had expanded to 50 centers in eight states. [15] By October 2021, there were more than 100 centers in 18 states. [16]
In 2024, Oak Street Health has expanded to over 170 centers nationwide.
AARP, formerly the American Association of Retired Persons, is an interest group in the United States focusing on issues affecting those over the age of fifty. The organization, which is headquartered in Washington, D.C., said it had more than 38 million members as of 2018. The magazine and bulletin it sends to its members are the two largest-circulation publications in the United States.
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