CVS Is Said to Explore $10 Billion-Plus Deal for Oak Street (3)

CVS Health Corp. is exploring an acquisition of Oak Street Health Inc., which runs primary care centers for Medicare recipients, according to people familiar with the matter.

A deal could be reached within weeks that would value Oak Street at more than $10 billion, including debt, said the people, who asked to not be identified because the matter isn’t public. Talks between the companies are ongoing and could end without an agreement, the people said.

Oak Street rose 26% to $28.44 at 9:51 a.m. in New York trading Tuesday, giving the company a market value of about $6.9 ...