Sales for the company’s health services segment rose 7.6% to $46.22 billion compared to the same quarter a year earlier. This includes sales at the company’s retail pharmacy chain as well as its pharmacy benefit management (PBM) business units.

Despite the group’s strong second-quarter results, CVS expressed concern over its costs for the quarter. Following the company’s acquisitions of primary-care provider Oak Street Health and home healthcare services firm Signify Health, CVS announced that it would begin to roll out a cost-cutting program.

The company recorded a further $496 million in pre-tax charges related to its cost-cutting agenda which began during the second quarter. CVS added that it would be pausing any acquisitions in the near term to keep costs minimal.

The post CVS Health Beats Q2 Profit Estimates appeared first on theprimarymarket.com.

The decision to acquire Oak Street Health comes as CVS looks to expand its foothold in the urgent care business. Already the owner of a health insurance unit and a pharmacy benefits manager, the deal will see CVS acquire hundreds of clinics and doctors’ offices belonging to Oak Street Health.

Oak Street Health currently operates a network of 160 primary care centers that carry out activities such as routine health screenings, preventive medicine and diagnosis, and management and treatment of a wide variety of chronic health problems. The healthcare provider’s primary care centers serve patients who are insured under the U.S. government’s Medicare program. To qualify for the program, candidates have to either be aged 65 or older or possess a disability.

The post CVS Announces Move to Acquire Oak Street Health appeared first on theprimarymarket.com.

Sales for the company’s health services segment rose 7.6% to $46.22 billion compared to the same quarter a year earlier. This includes sales at the company’s retail pharmacy chain as well as its pharmacy benefit management (PBM) business units.

Despite the group’s strong second-quarter results, CVS expressed concern over its costs for the quarter. Following the company’s acquisitions of primary-care provider Oak Street Health and home healthcare services firm Signify Health, CVS announced that it would begin to roll out a cost-cutting program.

The company recorded a further $496 million in pre-tax charges related to its cost-cutting agenda which began during the second quarter. CVS added that it would be pausing any acquisitions in the near term to keep costs minimal.

The post CVS Health Beats Q2 Profit Estimates appeared first on theprimarymarket.com.

The decision to acquire Oak Street Health comes as CVS looks to expand its foothold in the urgent care business. Already the owner of a health insurance unit and a pharmacy benefits manager, the deal will see CVS acquire hundreds of clinics and doctors’ offices belonging to Oak Street Health.

Oak Street Health currently operates a network of 160 primary care centers that carry out activities such as routine health screenings, preventive medicine and diagnosis, and management and treatment of a wide variety of chronic health problems. The healthcare provider’s primary care centers serve patients who are insured under the U.S. government’s Medicare program. To qualify for the program, candidates have to either be aged 65 or older or possess a disability.

The post CVS Announces Move to Acquire Oak Street Health appeared first on theprimarymarket.com.