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Alumni-Cofounded Company Sells to CVS for $10.6 Billion
Photo via LinkedIn
Photo via LinkedIn
The Wall Street Journal reported this week that health care giant CVS has agreed to purchase Oak Street Health, a “network of value-based primary care centers for adults on Medicare” that was cofounded by Geoffrey Price (MBA 2010), for $10.6 billion.
Price was named the Chief Innovation Officer at Oak Street in January 2022, with the firm noting at the time that he would “lead strategic efforts to expand the [c]ompany’s model.” The release went on to note that, under Price’s leadership “Oak Street Health has built a team of more than 4,000 Oakies across 19 states that provide the best care anywhere to over 132,000 older adults. …His commitment to diversity, equity and inclusion makes Oak Street Health a great place to work for teammates and enables an unmatched experience for patients.” He was named a “Top 25 Emerging Leader” by Modern Healthcare in 2019.
Oak Street Health CEO Mike Pykosz, a 2007 Harvard Law School alumnus, told the Journal that “[this] agreement with CVS Health will accelerate our ability to deliver on our mission and continue improving health outcomes, lowering medical costs, and providing a better patient experience while offering significant value to our shareholders.”
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