Oak Street Health could add up to 60 more centers in 2024

February 26, 2024- CVS Health acquired Oak Street Health last May for approximately $10.6 billion and Oak Street continues to operate as a multi-payor primary care provider as part of CVS Health. Its care model specializes in providing older adults comprehensive preventive care, including personalized wellness plans, integrated health services, and educational and social activities to support overall health and well-being.

With plans to expand to 25 states, the primary care provider for seniors currently employs about 600 clinicians at over 170 medical centers with plans to add up to 60 more centers in 2024. Karen Lynch, CEO for CVS Health, told analysts and investors on an earnings call earlier this year that opportunities to drive higher patient growth will continue to increase as Oak Street expands to additional geographies.

“We will open new Oak Street clinics co-located with CVS pharmacies this year and have already identified additional locations for 2024,” she said. By 2026, Oak Street will have more than 300 centers, according to CVS Health, “each of which has the potential to contribute $7 million of Oak Street Health Adjusted EBITDA at maturity.”

Learn More in the latest issue of The Journal of Healthcare Contracting.

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