Is Oak Street Health a subsidiary of CVS?

Yes. Oak Street Health is a wholly owned subsidiary of CVS Health Corporation. CVS acquired the company in May 2023 for approximately $10.6 billion, or $39 per share, and it operates inside CVS's healthcare delivery operations.

Is Oak Street Health publicly traded?

No. Oak Street traded on the NYSE under the ticker OSH from its August 2020 IPO until the CVS acquisition in May 2023, when it was delisted. Exposure now comes only through CVS Health shares on the NYSE under CVS.

When was Oak Street Health founded?

The company was founded in 2012 in Chicago, Illinois, and opened its first clinic in the Edgewater neighborhood in 2013. It expanded nationally over the following decade before joining CVS in 2023.

Who founded Oak Street Health?

Mike Pykosz, Geoff Price, and Griffin Myers founded Oak Street Health. Pykosz served as CEO through the CVS acquisition and departed in late 2023 as CVS integrated the business.

What is Oak Street Health's market position?

Oak Street is one of the largest value-based primary care networks for Medicare patients, with about 230 centers in 27 states and roughly 350,000 patients. It competes with ChenMed, CenterWell, and Cano Health in the senior-focused clinic segment.

How many locations does Oak Street Health have?

Approximately 230 centers across 27 states as of September 2026. CVS expanded the network from 169 centers at acquisition to 246, then announced 16 closures completed by the end of February 2026 amid rising medical costs.

Healthcare & Pharmaceuticals

Who Owns Oak Street Health?

Oak Street Health is owned by CVS Health Corporation (NYSE: CVS), the integrated healthcare company headquartered in Woonsocket, Rhode Island. CVS acquired Oak Street Health in May 2023 for approximately $10.6 billion. Founded in 2012 in Chicago, Oak Street operates about 230 value-based primary care centers across 27 states serving roughly 350,000 Medicare-eligible patients.

Parent Company

CVS Health Corporation

Acquired

2023

Status

Publicly Traded

Headquarters

Chicago, Illinois, USA

Oak Street Health Timeline

1963

CVS Health Corporation

Parent company established in Woonsocket, Rhode Island, USA

Company Founded

2012

Oak Street Health

Founded by Mike Pykosz, Geoff Price, Griffin Myers

Founded

2023

Acquired by CVS Health Corporation

CVS Health Corporation acquired Oak Street Health

Acquired

United StatesOfficial Website

Who Owns Oak Street Health?

Parent Company: CVS Health Corporation
Ownership Type: Subsidiary
Acquisition Year: 2023
Company Type: Publicly Traded
Stock Ticker: NYSE: CVS

Brand	Parent Company	Ownership Type
Oak Street Health	CVS Health Corporation	Subsidiary

Where to Buy

Disclosure: We may earn commission from purchases

Oak Street Health on Amazon

History of Oak Street Health

Founded: 2012
Founders: Mike Pykosz, Geoff Price, Griffin Myers
Acquired by CVS Health Corporation: 2023

Mike Pykosz, Geoff Price, and Griffin Myers founded Oak Street Health in Chicago in 2012. All three came from healthcare consulting backgrounds, including work at the Boston Consulting Group, and they built the company around a specific observation: Medicare patients in underserved neighborhoods received fragmented, reactive care, and a primary care model that took financial responsibility for keeping patients healthy could outperform fee-for-service medicine.

The first center opened in 2013 in the Edgewater neighborhood on Chicago's north side. The model placed clinics deliberately in areas with too few primary care providers, accepted Medicare and Medicare Advantage patients, and paid clinicians to manage outcomes rather than volume. Centers combined medical care with behavioral health and social support, and community rooms hosted events that kept patients connected between visits.

Growth was deliberate at first, then accelerated with venture funding from investors including General Atlantic and Newlight Partners. Oak Street expanded across the Midwest and into Texas, Pennsylvania, and other states. By 2020, the company operated about 60 centers.

In August 2020, Oak Street Health went public on the NYSE at $21 per share, one of the year's larger healthcare IPOs, and used the capital to speed expansion past 100 centers. The company also struck a notable partnership with AARP, becoming the only primary care provider to carry the AARP name on its centers.

CVS Health announced the acquisition in February 2023 and closed it in May 2023 for approximately $10.6 billion, at the time its largest healthcare services deal since Aetna. CVS said it aimed to grow Oak Street from about 169 centers to 300 or more by 2026.

Reality fell short of that plan. Medicare Advantage medical costs rose sharply across the industry in 2024 and 2025, pressuring value-based care economics. CVS expanded Oak Street to 246 centers but announced in late 2025 that it would close 16 locations by the end of February 2026 and temper its growth trajectory. As of September 2026, the network stands at about 230 centers in 27 states with roughly 350,000 patients, 8,500 employees, and nearly 900 primary care providers.

About CVS Health Corporation

What does CVS Health own?
CVS Health owns CVS Pharmacy (nearly 10,000 retail locations), CVS Caremark (pharmacy benefits management), Aetna (health insurance), MinuteClinic (retail health clinics), Oak Street Health (Medicare primary care), Omnicare (long-term care pharmacy), Navarro Discount Pharmacies, Longs Drugs, and Coram (infusion and home health services). These brands operate across three segments: Health Care Benefits, Health Services, and Pharmacy and Consumer Wellness.

Is CVS Health publicly traded?
Yes. CVS Health Corporation is publicly traded on the New York Stock Exchange under the ticker symbol CVS. The company is a component of the S&P 500 and is owned by institutional investors, mutual funds, and individual shareholders. There is no parent company or controlling shareholder.

Who founded CVS Health?
The original Consumer Value Store was founded in 1963 in Lowell, Massachusetts by Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland. The company began as a health and beauty products retailer and added pharmacy departments in 1967. It was acquired by Melville Corporation in 1969 and spun off as an independent public company in 1996.

Where is CVS Health headquartered?
CVS Health is headquartered in Woonsocket, Rhode Island, USA. The company's corporate offices, including executive leadership, finance, and strategic operations, are based in Woonsocket, with additional operational offices across the United States.

How many brands does CVS Health own?
CVS Health owns approximately 9 brands across its three operating segments. The most prominent are CVS Pharmacy, CVS Caremark, Aetna, MinuteClinic, Oak Street Health, and Omnicare. The company also operates smaller regional brands including Navarro Discount Pharmacies and Longs Drugs.

Who owns CVS Health?
CVS Health is an independent publicly traded corporation with no parent company. The company is owned by institutional investors, mutual funds, and individual shareholders who hold its NYSE-listed common stock. Major institutional holders include Vanguard Group, BlackRock, and State Street Corporation. There is no founder control or dual-class share structure.

What were CVS Health's recent financial results?
For FY2025, CVS Health reported record revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75. In Q2 2026, revenue was $106.1 billion, up 7.3%, with adjusted EPS of $2.58, beating analyst estimates of $1.85. Net income nearly tripled to $3 billion. The company raised its 2026 guidance to at least $414 billion in revenue and adjusted EPS of $7.90 to $8.10.

Has CVS Health made major acquisitions recently?
The most recent major acquisitions were Oak Street Health for approximately $10.6 billion and Signify Health for approximately $8 billion, both in 2023. The largest acquisition in company history was Aetna for approximately $69 billion in 2018. CEO David Joyner has indicated the company has the capital and leadership bandwidth to pursue additional deals across its three business areas.

Founded: 1963
Headquarters: Woonsocket, Rhode Island, USA
Company Type: Publicly Traded
Stock: NYSE: CVS
Revenue: $402.1 billion (FY2025); $206.5 billion (H1 2026)
Employees: Approximately 300,000

Visit CVS Health Corporation website

View full company profile for CVS Health Corporation

Where Is Oak Street Health Made / Based?

Headquarters: Chicago, Illinois, USA
Manufacturing / Operations: United States

Oak Street Health Categories & Tags

Primary Care Value Based Care Medicare Clinics Healthcare American Brand

Oak Street Health Recalls & Controversies

Oak Street Health's controversies center on the economics of Medicare-focused primary care rather than product failures. In 2023, before the CVS acquisition closed, Oak Street paid $60 million to resolve a U.S. Department of Justice False Claims Act investigation alleging the company paid kickbacks to insurance agents who referred seniors to its clinics.

Investor suits around the CVS acquisition price also surfaced, though the deal closed as announced. More broadly, critics of Medicare Advantage-aligned primary care, including academic researchers and some policymakers, argue that full-risk models create incentives to underprovide care or to over-document patient severity to raise payments. Oak Street maintains its model increases preventive visits and reduces hospitalizations, supported by its 44% admissions reduction claim.

The 2025 announcement of 16 clinic closures drew criticism from patient advocates in affected neighborhoods, where the centers had been marketed as anchors for underserved communities. CVS said the closures reflect market conditions and that the remaining 230-center network continues operating.

Oak Street Health Ownership: Pros & Cons

Advantages

+CVS ownership provides capital and a referral path through Aetna's millions of Medicare Advantage members
+Full-risk value-based model aligns revenue with keeping patients healthy, a differentiated proposition
+44% hospital admission reduction gives the model a measurable outcome competitors must match
+The AARP partnership provides trusted branding that rivals lack
+Integration with CVS Pharmacy and Caremark captures prescriptions the clinics generate

Considerations

-Rising Medicare Advantage medical costs have pressured the model's economics since 2024
-CVS's own financial stress has already produced 16 clinic closures and a tempered growth plan
-The 2023 DOJ kickback settlement remains part of the brand's record
-Value-based primary care margins are thin and depend on accurate risk documentation that draws regulatory scrutiny
-Competitors including ChenMed and CenterWell target the identical Medicare population

Frequently Asked Questions About Oak Street Health

Sources & Further Reading

Competitors to Oak Street Health

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
CenterWell	Humana	USA	2022	Market leader	United states	Seniors-65-plus
Humana Healthcare Services (CenterWell Segment)	Humana	USA	2022	Growth segment	United states	Seniors-65-plus
Fidelis Care	Centene	USA	1993	Market leader	United states	All-ages
Humana Medicare	Humana	USA	1985	Market leader	United states	Seniors-65-plus
One Medical	Amazon	United States	2007	Premium	United states	All-ages
Optum Health	Unitedhealth Group	United States	2011	Mass market	United states	All Genders