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Management news
Cano Health emerges from bankruptcy; focuses on restructuring efforts
Preventive Healthcare
Jun 28, 2024
This week:
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Preventive Healthcare

Preventive Healthcare

Jun 28, 2024

Cano Health emerges from bankruptcy; focuses on restructuring efforts

Management news

  • Cano Health, a provider of value-based primary care, has successfully emerged from bankruptcy as a reorganized private company. The company filed for bankruptcy and was delisted from the New York Stock Exchange in February 2024 .

  • As part of its restructuring efforts, Cano Health converted over USD 1 billion of pre-bankruptcy debt into common stock and warrants and secured over USD 200 million in new capital from existing investors. Cano Health exited underperforming markets such as California, New Mexico, Illinois, and Puerto Rico to streamline operations. These efforts resulted in USD 270 million in cost reductions and productivity improvements.

  • Cano Health offers primary care, wellness programs, a mobile clinic, and prescription delivery. Additionally, it provides population health management services to affiliated medical centers. Currently, Cano Health operates solely in Florida and has 80 medical centers.

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