CVS Health expects to close its $10.6 billion acquisition of Oak Street Health by the first half of this year, according to SEC filings.

The Justice Department and the Federal Trade Commission allowed the antitrust waiting period to run out on Monday without taking action to halt the deal.

Medicare-focused primary care player Oak Street Health and CVS Health each filed the required paperwork with the DOJ and the FTC on February 24, according to Oak Street's filing with the U.S. Securities and Exchange Commission on Thursday.

The FTC and the DOJ still have the authority to challenge the merger on antitrust grounds but clearing that regulatory hurdle means the deal can move forward.

In a separate filing with the SEC Wednesday, CVS said it planned to close the deal in the first half of 2023.

The healthcare giant announced in February plans to buy Oak Street in an all-cash deal valued at $10.6 billion, or $39 per share, as it aims to build a vertically integrated healthcare company including clinics, pharmacies, health plan Aetna and other services.

CVS said in the announcement that Oak Street's model, which is tech-enabled, multi-payer and value-based, has proven to be scalable, making it an attractive target.

The provider will be folded into CVS' newly created healthcare delivery arm, the company said.

Oak Street Health stock rose 6% following the news.

Sen. Elizabeth Warren, D-Massachusetts, urged the FTC to take a closer look at the deal, and others like it. Warren said...

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