CVS Health in the headlines: 8 recent updates

CVS Health made a $10.6 billion move to acqurie Oak Street Health, named new esecutives and scored big contracts in recent weeks. 

Here are six stories about the company Becker's has reported since Jan. 4. 

1. CVS said it will acquire primary care company Oak Street Health in an all-cash deal worth $10.6 billion. Chicago-based Oak Street manages a value-based primary care network with more than 160 clinics in 21 states that primarily focus on Medicare beneficiaries — ​​by 2026, the company expects to have more than 300 locations. 
   
   
2. The company also reported $4.2 billion in 2022 profits. 
   
   
3. Shari Slate was named senior vice president and chief diversity, equity and inclusion officer for CVS Health, effective Feb. 27. Ms. Slate will report directly to chief people officer Laurie Havanec and will oversee the innovation and implementation of the company's diversity, equity and inclusion strategy for its 300,000 employees. 
   
   
4. Cigna is suing former executive Amy Bricker and CVS, alleging her departure to the rival violated a noncompete agreement. Ms. Bricker served as president of Cigna's pharmacy benefit manager, Express Scripts. She resigned Jan. 10 to take an executive leadership position with Cigna's "chief competitor" CVS, according to the lawsuit. Ms. Bricker is slated to start as CVS' executive vice president and chief product officer-consumer in February. 
   
   
5. CVS Accountable Care Organization and Chicago-based Rush University System for Health are collaborating on ACO REACH participation for Medicare members in the Chicago area.
   
   
6. Karen Lynch, CVS Health CEO, said the company is "disappointed" in its recent Medicare Advantage open enrollment numbers. In a presentation at the J.P. Morgan Healthcare Conference, Ms. Lynch said insurer arm Aetna grew MA enrollment by the "low to mid single digit percentage range." 
   
   
7. North Carolina is moving ahead with its plans to hand over its State Health Plan to Aetna, rejecting protests from Blue Cross Blue Shield of North Carolina and UMR, a UnitedHealthcare subsidiary. State Health Plan administrators found both BCBS North Carolina and UMR's protests to be "without merit." 
   
   
8. North Carolina cited cost savings and more price transparency as reasons why the state ended its 40-year relationship with Blue Cross Blue Shield in favor of Aetna.