General Atlantic Sells Stake in Oak Street Health in $10.6 Billion Acquisition by CVS Health

Paul, Weiss advised General Atlantic in the all-cash sale of its stake in primary care startup Oak Street Health to CVS Health. CVS Health acquired Oak Street’s outstanding shares for $39 per share, representing an enterprise value of approximately $10.6 billion; Oak Street is now part of CVS Health’s recently formed Health Care Delivery organization. General Atlantic, Newlight Partners and certain members of the Oak Street board of directors collectively held 45% of Oak Street’s common stock.

The Paul, Weiss team included, among others, corporate partners Matthew Abbott, Christopher Cummings and Ellen Ching and counsel Caitlin Kelly and Scott Grader; litigation partners Joshua Soven, Andrew Gordon, Randy Luskey and Jessica Carey; and antitrust counsel Marta Kelly.