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CVS eyes next-generation health clinics after Amazon’s move for One Medical
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CVS eyes next-generation health clinics after Amazon’s move for One Medical

CVS Health Corp. is investing in a young chain of health clinics, and may be looking to acquire another. CVS CVS, -0.12% invested $100 million in a Carbon Health Inc., a San Francisco-based chain of urgent- and primary-care clinics, according to a Monday morning announcement. Just hours later, Bloomberg News reported that CVS was in negotiations to buy Oak Street Health Inc. OSH, +4.25%, a decade-old chain of clinics that service Medicare recipients, for more than $10 billion. Publicly-traded Oak Street ended the day with a market capitalization slightly lower than $5.5 billion. Oak Street shares jumped more than 35% in after-hours trading, while CVS stock was mostly stable. CVS declined comment on the...