Cano Health, the Florida-based operator of "Primary Care Plus" health centers for seniors, has acquired Doctor’s Medical Center (DMC), another Florida-based primary care provider, for a total consideration of USD 300 million, USD 250 million of which was funded through debt. This deal follows Cano’s acquisition of University Healthcare for USD 600 million last month. 

The acquisition is anticipated to expand Cano Health's total membership base by 197,000 Medicare Advantage, Medicaid, and Affordable Care Act members. Cano Health claims it will become be the largest independent value-based primary care provider in the state. 

Cano Health also revised its earnings guidance for 2021 and reaffirmed the upper limit from its previous guidance, estimating revenue at USD 1.5 billion (up from USD 1.45 billion) and adjusted EBITDA of USD 110 million (up from USD 105 million). The company expects its membership to reach 207,500 (up from 158,000) and its number of medical centers to increase to 121 - 126 (up from 95 - 105).

Founded in 2002, Cano Health is a value-based primary care provider that also offers wellness programs, a mobile clinic, and prescription delivery. The company also provides population health management services to affiliated medical centers. As of May 2021, the company had served patients across 14 markets in Florida, Texas, and Nevada.