Company:Oak Street Health

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Short description: US health care network
Oak Street Health, Inc.
TypePublic company
IndustryHealth care
Founded2012; 12 years ago (2012)
Founders
  • Mike Pykosz
  • Griffin Myers
  • Geoff Price
HeadquartersChicago, Illinois, U.S.
Websitewww.oakstreethealth.com

Oak Street Health, Inc. is a health care network of primary care centers for older adults on Medicare.[1][2][3][4][5][6]

History

Oak Street Health was founded in 2012 by Mike Pykosz, Griffin Myers and Geoff Price and is headquartered in Chicago . [7][8][9] Oak Street Health is the only primary care provider endorsed by the AARP.[10][11][12][13][14] Oak Street Health operates in helping older adults stay healthy by providing preventive care, education and social activities to support overall health well-being.[15][16][17][18][19][20][21]

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.[22]

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. [23]

IPO

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.[24][25][26] The company offered 15.6 million shares at $21 per share on the New York Stock Exchange, where it is traded under the ticker “OSH.”[27][28]

Recognition

Oak street co-founder, Mike Pykosz was listed among List of 300 people transforming business in 2020 by Business Insider,[29] as well as among 100 Most Influential People in Healthcare by Modern Healthcare.[30]

In 2020, Oak Street was listed among 8 primary care companies building a new future for medicine during the pandemic, by Business Insider.[31]

Operations

Oak Street Health head office is based in Chicago . It started its operation in 2012 and has now expanded to 20 states and 130 centers.[32]

In January 2020, Oak Street partnered with Advocate Aurora Health, to open a senior-focused primary care center in Elgin.[32]

In October 2021, Oak Street Health opened its clinic in Harwood Heights, as 19% of the residents of that town are age 65 or older.[33]

References

  1. ↑ "Clinic chains like ChenMed and Oak Street transformed how primary-care doctors get paid. Here's how they're tackling expensive specialty medicine." (in en-US). https://www.businessinsider.com/primary-care-clinics-oak-street-chenmed-are-lowering-costs-2022-2. 
  2. ↑ "AARP’s billion-dollar bounty" (in en). https://fortune.com/2022/06/06/aarp-brand-marketing-billion-dollar-bounty/. 
  3. ↑ "Oak Street Health provides homebound with COVID-19 vaccines". https://www.downriversundaytimes.com/2021/04/15/oak-street-health-provides-homebound-with-covid-19-vaccines/. 
  4. ↑ "Medicare patients have more options as clinic opens in Harwood Heights" (in en). https://www.chicagotribune.com/suburbs/norridge/ct-nhh-medicare-patients-tl-1028-20211025-orxyy6tzgnbyvibqhgqfgkz64i-story.html. 
  5. ↑ "How Oak Street Health has revamped its business model during the pandemic". https://www.bizjournals.com/philadelphia/news/2020/04/23/oak-street-health-philadelphia-coronavirus-seniors.html. 
  6. ↑ "Coronavirus could change how you go to the doctor" (in en-US). 2020-06-17. https://www.latimes.com/politics/story/2020-06-17/coronavirus-change-how-you-go-to-doctor. 
  7. ↑ "How healthcare providers are the key to building patient trust in telehealth care" (in en-US). https://www.businessinsider.com/how-healthcare-providers-are-building-patient-trust-in-telehealth-care-2021-10. 
  8. ↑ Abbott, Brianna (2022-02-27). "Community Workers Push to Get Covid-19 Tests to the Vulnerable" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/community-workers-push-to-get-covid-19-tests-to-the-vulnerable-11645957800. 
  9. ↑ Tebor, Jorge L. Ortiz, John Bacon and Celina. "'It will get better': Biden says US headed toward time when virus won't be a disruption: Live COVID updates" (in en-US). https://www.usatoday.com/story/news/health/2022/01/19/covid-tests-pandemic-cases-vaccines/6571545001/. 
  10. ↑ "Does the AARP have a billion-dollar conflict of interest?" (in en). https://www.tampabay.com/news/health/2022/06/22/does-the-aarp-have-a-billion-dollar-conflict-of-interest/. 
  11. ↑ "Seniors decry ageism in health care settings". https://www.cnn.com/2021/10/17/health/age-discrimination-khn-partner-wellness/index.html. 
  12. ↑ Carballo, Rebecca (2022-03-24). "A legacy of racism in the health care system is hurting patients, new research shows" (in en-US). https://www.houstonchronicle.com/business/article/How-lack-of-diversity-in-health-care-leads-to-17024462.php. 
  13. ↑ Pykosz, Mike. "CEO of Oak Street Health: When the pandemic finally subsides, let's not forget to address root cause of health disparities" (in en-US). https://www.businessinsider.com/after-pandemic-dont-forget-to-address-root-cause-of-health-disparities-2021-3. 
  14. ↑ "Oak Street Health continues NYC expansion, opens first Bronx center – Bronx Times" (in en-US). 2021-10-18. https://www.bxtimes.com/oak-street-health-continues-nyc-expansion-opens-first-bronx-center/. 
  15. ↑ Kennedy, Corinne S.. "During COVID-19, Memphis clinic for Medicare patients battles second epidemic: loneliness" (in en-US). https://www.commercialappeal.com/story/news/health/2021/09/27/oak-street-health-memphis-locations-medicare-providers-services/5752425001/. 
  16. ↑ "Oak Street's patients are most at risk from COVID-19. Here's how its business is changing" (in en). 2020-04-21. https://www.fiercehealthcare.com/practices/how-oak-street-health-has-changed-post-covid-19. 
  17. ↑ Grim, Ryan; Ahlman, Austin (December 14, 2021). "Medicare Privatization Scheme Faced Legal Questions About Profiteering" (in en). https://theintercept.com/2021/12/14/medicare-privatized-health-care-insurance-direct-contracting-ethics/. 
  18. ↑ "Welcome back party held for Jackson’s Oak Street Health seniors" (in en-US). 2021-09-10. https://www.wjtv.com/news/local/welcome-back-party-held-for-jacksons-oak-street-health-seniors/. 
  19. ↑ "Oak Street Health (NYSE:OSH) dips 16% this week as increasing losses might not be inspiring confidence among its investors - Simply Wall St News". https://simplywall.st/stocks/us/healthcare/nyse-osh/oak-street-health/news/oak-street-health-nyseosh-dips-16-this-week-as-increasing-lo/amp. 
  20. ↑ Washington, Julie (2021-05-20). "‘She got to the right decision:’ How doctors talk to vaccine-hesitant patients with empathy, compassion" (in en). https://www.cleveland.com/coronavirus/2021/05/she-got-to-the-right-decision-how-doctors-talk-to-vaccine-hesistant-patients-with-empathy-compassion.html. 
  21. ↑ "Primary care firm Oak Street shares jump in NYSE debut" (in en). Reuters. 2020-08-06. https://www.reuters.com/article/oak-street-health-ipo-idUSL4N2F84UX. 
  22. ↑ Landi, Heather (2021-10-22). "Oak Street Health expands virtual specialty care with $130M deal for RubiconMD" (in en). https://www.fiercehealthcare.com/practices/oak-street-health-expands-virtual-specialty-care-130m-deal-for-rubiconmd. 
  23. ↑ Crawford, T.J. (2023-02-08). "CVS Health to acquire Oak Street Health" (in en). https://www.cvshealth.com/news/company-news/cvs-health-to-acquire-oak-street-health.html. 
  24. ↑ "Primary care firm Oak Street shares jump in NYSE debut" (in en). Reuters. 2020-08-06. https://www.reuters.com/article/oak-street-health-ipo-idUSL4N2F84UX. 
  25. ↑ Pflanzer, Lydia Ramsey; Hernbroth, Megan. "The hot healthcare startup Oak Street surged to a $9.5 billion valuation in its IPO. Here are the investors and execs who stand to make the most." (in en-US). https://www.businessinsider.com/biggest-investors-in-oak-street-health-before-initial-public-offering-2020-7. 
  26. ↑ Beltran, Luisa. "Oak Street Health Just Went Public. It’s Trying to Fix Health Care." (in en-US). https://www.barrons.com/articles/oak-street-health-just-went-public-its-trying-to-fix-health-care-51597140000. 
  27. ↑ Reuter, Elise (2020-08-06). "Primary care startup Oak Street Health goes public for $328M" (in en-US). https://medcitynews.com/2020/08/primary-care-startup-oak-street-health-goes-public-for-328m/. 
  28. ↑ "Oak Street Health CEO on IPO day spike" (in en-US). https://finance.yahoo.com/video/oak-street-health-ceo-ipo-172635784.html. 
  29. ↑ "Transforming Business | 300 People transforming business" (in en-US). https://www.businessinsider.com/transformers/mike-pykosz. 
  30. ↑ "100 Most Influential People in Healthcare - Mike Pykosz" (in en). 2021-12-07. https://www.modernhealthcare.com/awards/2021-most-influential-healthcare-mike-pykosz. 
  31. ↑ Pflanzer, Lydia Ramsey. "Oak Street just surged in its IPO. Meet the 8 primary-care companies building a new future for medicine during the pandemic." (in en-US). https://www.businessinsider.com/coronavirus-primary-care-iora-health-chenmed-one-medical-2020-5. 
  32. ↑ 32.0 32.1 "Health care providers see green in a graying population" (in en-US). 2020-01-10. https://www.chicagobusiness.com/health-care/health-care-providers-see-green-graying-population. 
  33. ↑ "Medicare patients have more options as clinic opens in Harwood Heights". https://www.chicagotribune.com/suburbs/norridge/ct-nhh-medicare-patients-tl-1028-20211025-orxyy6tzgnbyvibqhgqfgkz64i-story.html. 

External links




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