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Oak Street Health (NYSE: OSH) announced its participation in the 34th Annual Piper Sandler Healthcare Conference, featuring a fireside chat with CEO Mike Pykosz and CFO Tim Cook on November 30, 2022, at 11:30 a.m. ET. The event aims to discuss the company’s unique value-based primary care model for Medicare adults, with a focus on quality healthcare. Oak Street Health operates over 160 centers across 21 states and is recognized for its innovative approach and workplace excellence, including awards from Energage and Inc.
On November 16, 2022, Silicon Valley Bank and Hercules Capital announced a $300 million credit facility for Oak Street Health (NYSE: OSH). This financing aims to support Oak Street's operational and strategic initiatives over several years. The partnership reflects strong relationships built over the years. Oak Street Health focuses on value-based primary care for Medicare-eligible patients, particularly those in underserved communities. The collaboration underlines both banks' commitment to healthcare innovation and Oak Street's growth.
Oak Street Health, Inc. (NYSE: OSH) reported its Q3 2022 financial results, showcasing a 40% year-over-year revenue increase to $545.7 million. Capitated revenue rose by 43% to $537.9 million, and the company served approximately 145,000 risk-based patients. However, net loss expanded to $(130.4) million from $(110.0) million in Q3 2021, and adjusted EBITDA was $(88.3) million, worsening from $(64.4) million. The company anticipates operating 169 centers and caring for 157,000 to 159,000 at-risk patients by year-end, with FY 2022 revenue projections between $2.15 billion and $2.155 billion.
Stephens & Stephens is investigating Oak Street Health, Inc. (NYSE: OSH) for potential violations of securities laws and fiduciary duties. Following a civil investigative demand from the U.S. Department of Justice regarding the company's practices, including its relationships with third-party marketing agents and free transportation for federal health care beneficiaries, the stock dropped over 20% to $37.14 on November 9, 2021. A class action complaint alleges undisclosed facts that heighten legal risks for the company, impacting defense costs and management resources.
Oak Street Health (NYSE: OSH) has been recognized for the second consecutive year by the American Medical Association (AMA) as a recipient of the 2022 Joy in Medicine™ Health System Recognition Program. This program honors organizations committed to improving the well-being of healthcare teams. The recognition highlights Oak Street Health's focus on creating a positive work environment, which aims to combat stress and burnout among providers. Oak Street Health operates over 150 primary care centers nationwide, emphasizing quality care for Medicare patients.
Oak Street Health (NYSE: OSH) will hold a conference call on November 8, 2022, at 8:00 AM ET to discuss its fiscal Q3 2022 financial results. A press release with the results will be available on November 7, 2022, after market close. Interested parties can join the call by dialing (844) 200-6205 for U.S. participants or +1 (929) 526-1599 for international participants, using participant code 255745. Oak Street Health is a primary care provider for Medicare patients, operating over 150 centers across 20 states.
Oak Street Health (NYSE: OSH) has launched a groundbreaking graduate nurse practitioner training program, in collaboration with the University of Michigan School of Nursing. This 12-month paid fellowship aims to enhance the skills of eight new clinicians across multiple states: Illinois, Pennsylvania, North Carolina, and Texas. The program focuses on value-based care and includes a comprehensive curriculum designed to reduce hospital admissions—51% lower than Medicare benchmarks. Oak Street operates over 150 centers and aims to improve care for older adults.
Oak Street Health (NYSE: OSH) will participate in Morgan Stanley's 20th Annual Global Healthcare Conference. CEO Mike Pykosz and CFO Tim Cook are scheduled for a fireside chat on September 13, 2022, at 3:30 p.m. ET. The event will be available via live audio webcast on the company’s Investor Relations page, with a replay accessible for up to 90 days afterwards. Founded in 2012, Oak Street Health focuses on value-based primary care for Medicare adults, operating over 140 centers across 20 states, emphasizing quality of care over service volume.
Oak Street Health (NYSE: OSH) has priced its underwritten public offering of 7 million shares at $25.75 each, with a further option for underwriters to purchase 1.05 million additional shares. The offering is set to close on August 19, 2022. Importantly, Oak Street will not receive any proceeds from this sale, which is led by a selling stockholder. J.P. Morgan, Goldman Sachs & Co., and others are managing the offering. This announcement highlights the company's position as a primary care provider for adults on Medicare.
