Feb 6 (Reuters) – CVS Well being Corp (CVS.N) is near an settlement to purchase major care heart operator Oak Avenue Well being Inc (OSH.N) for about $10.5 billion together with debt, the Wall Avenue Journal reported on Monday, citing folks acquainted with the matter.
The businesses are discussing a value of about $39 a share, the newspaper stated.
The deal, if it goes by, may very well be introduced as quickly as this week, the report added.
Oak Avenue Well being and CVS declined to touch upon the report when contacted by Reuters.
Bloomberg Information reported final month that CVS was exploring a deal for Oak Avenue Well being.
Oak Avenue Well being runs major care facilities throughout the US for recipients of Medicare, the U.S. authorities insurance coverage program for People aged 65 and older, and has non-public fairness corporations similar to Normal Atlantic and Newlight Companions amongst its shareholders.
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CVS had additionally expressed curiosity in increasing into the first care area, and was reportedly among the many bidders to amass major care supplier Cano Well being earlier than backing out.
Reporting by Rhea Binoy in Bengaluru; Modifying by Subhranshu Sahu
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