CVS Health is plunging deeper into primary care services, buying primary care provider Oak Street Health for approximately $10.6 billion.
Its centers use doctors, social workers and other care providers to help people manage their health.
Founded in 2012, Oak Street runs 169 locations in 21 states. It expects to have more than 300 locations by 2026. “We believe it’s an asset that we want in our portfolio,” CEO Karen Lynch told investors at the JPMorgan conference. The retail giant Amazon also is spending nearly $4 billion to buy primary care provider One Medical and recently said it was launching a subscription prescription drug service.
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