Oak Street Health Announces Pricing of Initial Public Offering

Oak Street Health, Inc. (“Oak Street”), a fast-growing network of value-based, primary care centers for adults on Medicare, today announced the pricing of its initial public offering of 15,625,000 shares of its common stock at a price to the public of $21.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the symbol “OSH” on August 6, 2020, and the offering is expected to close on August 10, 2020, subject to customary closing conditions. In addition, Oak Street has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of common stock at the initial public offering price less underwriting discounts and commissions.

J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley, William Blair and Piper Sandler are acting as joint book running managers for the offering. Baird and Truist Securities, formerly known as SunTrust Robinson Humphrey, are acting as co-managers for the offering.

The offering of these securities is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: [phone] or email at [e-mail]; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: [phone], or via email: [e-mail]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; via telephone at [phone] or via email: [e-mail]; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at [phone] or via email at [e-mail].

A registration statement on Form S-1 relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Oak Street Health:

Founded in 2012, Oak Street Health is a fast-growing network of value-based, primary care centers for adults on Medicare. With a mission of rebuilding healthcare as it should be, the company operates an innovative healthcare model focused on quality of care over volume of services, and assumes the full financial risk of its patients.

Oak Street Health currently operates more than 50 centers across Illinois, Michigan, Indiana, Pennsylvania, Ohio, Rhode Island, North Carolina, Tennessee and Texas, with plans to continue its geographic expansion, including into New York and Mississippi, in 2020.

Source: Oak Street Health

View source version on businesswire.com: https://www.businesswire.com/news/home/20200805006118/en/

Media Contact: Erica Frank, Vice President of Public Relations | Oak Street Health | [e-mail]

Investor Contact: Constantine Davides | Westwicke, an ICR Company | [e-mail]