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CVS Expects To Close Oak Street Health After Passing Antitrust Hurdles

By  |  April 3, 2023

According to SEC filings, CVS Health anticipates finalizing its acquisition of Oak Street Health for $10.6 billion by the first half of this year.

On Monday, the antitrust waiting period for the deal expired without intervention from the Justice Department or Federal Trade Commission, reported Fierce Pharma. 

Oak Street Health and CVS Health submitted the necessary paperwork to the DOJ and FTC on February 24, as stated in Oak Street’s SEC filing on Thursday, in relation to their focus on Medicare-centered primary care.

The FTC and the DOJ still have the authority to challenge the merger on antitrust grounds but clearing that regulatory hurdle means the deal can move forward.

Related: CVS Nearing $10.5 Billion Deal For Oak Street Health

In a separate filing with the SEC Wednesday, CVS said it planned to close the deal in the first half of 2023.

The healthcare giant announced in February plans to buy Oak Street in an all-cash deal valued at $10.6 billion, or $39 per share, as it aims to build a vertically integrated healthcare company including clinics, pharmacies, health plan Aetna and other services.