CVS Health Corp said on Wednesday it would pause its recent acquisition spree as it focuses on integrating purchases of healthcare service provider Signify Health and primary care provider Oak Street Health.
it would not strike new deals in the short term after a spate of acquisitions in the healthcare space.and Walgreens have expanded their healthcare business footprints, especially primary and urgent care, as they look to benefit from growth in the sector.
CVS cut its 2023 adjusted earnings forecast to $8.50 to $8.70 per share from its prior view of $8.70 to $8.90. Lynch said the early closure could weigh on CVS earnings in the short term, but would also enable the healthcare conglomerate to unlock cost cutting synergies earlier.
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