Inside CVS' physician acquisition strategy

CVS Health is one of the top contenders in the race to acquire physicians. 

The company is focusing mainly on primary care. In May, CVS closed on its $11.5 billion acquisition of Chicago-based primary care organization Oak Street Health. By 2026, CVS Health expects to have more than 300 locations. 

"Oak Street Health has been the bellwether for innovation in the primary care space," said Richard Zane, MD, chief innovation officer of Aurora, Colo.-based UCHealth, told Becker's in May. "A lot to like and emulate about their approach, their financials and, most importantly, their patient outcomes, making them a smart acquisition target and giving CVS Health a great opportunity to move quickly. Looks like Amazon with One Medical and now CVS with Oak Street Health are not dabbling."

With the purchase, CVS now owns Oak Street's more than 170 primary care clinics serving Medicare Advantage patients. In total, CVS Health has 1,100 MinuteClinic locations in 36 states and Washington, D.C. 

In March 2023, it completed an $8 billion acquisition of Signify Health, adding 10,000 clinicians. CVS and Signify said they intend to work to lower costs and improve patient care, engagement and access, with a focus on Medicare Advantage customers.

In February, CVS Health closed 25 of its MinuteClinic locations across Los Angeles to ensure patient and consumer demands align with its healthcare delivery strategy.

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