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Oak Street Health (NYSE: OSH) has announced a public offering of 7,000,000 shares of its common stock by a selling stockholder, with a possible additional 1,050,000 shares available through a 30-day underwriters' option. Oak Street will not receive any proceeds from this sale, and the selling stockholder will pay the related underwriting costs. The offering is facilitated by J.P. Morgan, Goldman Sachs, and others, with a shelf registration statement already effective. The company, which operates over 140 primary care centers for Medicare patients, emphasizes a quality-over-quantity care approach.
Oak Street Health reported a strong second quarter for 2022, with total revenue reaching $523.7 million, up 48% year-over-year. The company managed approximately 134,000 risk-based patients across 144 centers in 20 states. Despite this growth, Oak Street recorded a net loss of $(148.3) million, widening from $(100.3) million in Q2 2021. Adjusted EBITDA stood at $(53.1) million, slightly improving from $(53.5) million a year prior. The outlook for FY 2022 anticipates revenue between $2.125 billion and $2.145 billion.
Oak Street Health (NYSE: OSH) is set to host a conference call on August 3, 2022, at 7:30 AM ET to discuss its fiscal second quarter 2022 financial results. The results will be released on August 2, 2022, after market close. With more than 140 centers across 20 states, Oak Street Health focuses on value-based primary care for Medicare patients, emphasizing quality over volume. The company has received accolades including Energage's 2022 Top Workplaces USA award and recognition by Inc. as one of the Best-Led Companies of 2021.
Oak Street Health announces its expansion into Colorado, opening new centers in Denver and Colorado Springs in Fall 2022, marking the company's entry into its 21st state. Additionally, new locations will open in Augusta, Georgia, Lexington, Kentucky, and Grand Rapids, Michigan throughout 2022. The company's value-based model significantly reduces hospital admissions and readmission rates while maintaining a high Net Promoter Score of 90. This growth aims to enhance access to quality primary care for Medicare-eligible adults.
Oak Street Health (NYSE: OSH) announced that CEO Mike Pykosz and CFO Tim Cook will speak at two upcoming investor conferences. The first is the William Blair 42nd Annual Growth Stock Conference on June 8, 2022, at 4:00 p.m. CT. The second is the Goldman Sachs 43rd Annual Global Healthcare Conference on June 13, 2022, at 1:20 p.m. PT. Live webcasts will be available on the company’s investor website, with replays lasting 90 days. Founded in 2012, Oak Street Health specializes in value-based primary care for Medicare adults, operating 140 centers across 20 states.
Oak Street Health (NYSE: OSH) will participate in the BofA Securities 2022 Healthcare Conference, featuring a fireside chat with CEO Mike Pykosz and CFO Tim Cook at 10:00 a.m. PT on May 12, 2022, and a panel with CMO Dr. Ali Khan at 1:00 p.m. PT on May 13, 2022. Investors can access the live audio webcast on the Company's website, available for 30 days post-event. Established in 2012, Oak Street Health focuses on value-based primary care for Medicare adults, currently operating 140 centers in 20 states.
Oak Street Health reports strong Q1 results for 2022, highlighting a 73% revenue growth to $513.8 million and a 64% increase in at-risk patients to approximately 124,000. Despite the positive metrics, the company incurred a net loss of $96.7 million, up from $64.0 million year-over-year. Adjusted EBITDA also worsened, reaching $(42.4) million compared to $(17.4) million in Q1 2021. The company operates 140 centers, a significant increase from 86 centers the previous year, with plans to expand further in 2022.
Oak Street Health (NYSE: OSH) will hold a conference call on May 4, 2022, at 8:00 AM ET to discuss its fiscal Q1 2022 financial results. The results will be announced in a press release after market close on May 3, 2022. Interested participants can join the call by dialing (833) 529-0224 for U.S. listeners or +1 (236) 389-2153 for international participants using the code 8878594. A replay will be available shortly after the call.
Founded in 2012, Oak Street Health operates over 130 Medicare-focused primary care centers across 20 states.
Oak Street Health (NYSE: OSH) is hosting a 'Livin' the Dream' event on April 21 from 1 p.m. to 2 p.m. at over 130 locations across 20 states. This initiative invites patients and community members to share their dreams in a supportive environment. Selected wishes may be submitted to Wish of a Lifetime from AARP for potential fulfillment. Recent data indicates patients have seen an average reduction of 5.3 points in depression scores after treatment. The event aims to combat social isolation and foster community connections.
