Oak Street Health, which operates health centers that provide primary care for Medicare patients in the Midwest, announced terms for its IPO on Wednesday.
The Chicago, IL-based company plans to raise $250 million by offering 15.6 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Oak Street Health would command a fully diluted market value of $3.8 billion.
The company employs 260 primary care provider and 54 health centers, in 13 markets across 8 states, which provided care for approximately 85,000 patients as of March 31, 2020.
Oak Street Health was founded in 2012 and booked $641 million in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol OSH. J.P. Morgan, Goldman Sachs, Morgan Stanley, William Blair and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of August 3, 2020.
