Cano Health

Cano Health, Inc. operates primary care centers and supports affiliated medical practices that engages in primary care for seniors in Florida, Texas, Nevada, and Puerto Rico. It provides population health management tools including telehealth, prescription home delivery, wellness programs, transition of care, and high-risk and complex care management. The company was founded by Marlow Hernandez in 2009 and is headquartered in Miami, FL.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q3 2024

Cano Health reports strong 2022 performance, eyes growth opportunities

Cano Health demonstrated strong performance in membership growth and revenue generation in 2022, despite facing challenges in revenue per member and goodwill impairment. Strategic actions to enhance liquidity and operational efficiency position the company for future growth.
The company's focus on optimizing operations, expanding strategically, and improving cash flows presents opportunities for sustainable growth and profitability. Renegotiated contracts and cost-saving initiatives aim to address challenges and drive financial performance.
With a clear roadmap for 2023, including membership and revenue targets, Cano Health is poised to capitalize on its strengths, navigate challenges, and leverage opportunities to drive value for stakeholders. The company's financial health and growth prospects remain promising.

Cano Health reports robust Q1 performance, focuses on profitability

Cano Health's Q1 2023 performance showcased strong revenue growth, membership expansion, and a focus on operational efficiency and profitability.
The company faces challenges in managing increased MCR and seasonality impacts but is strategically positioned to capitalize on opportunities for growth and cost optimization.
By divesting non-core assets, reallocating resources, and focusing on Medicare Advantage business, Cano Health aims to drive profitability and enhance shareholder value.
Overall, Cano Health's performance, strategic initiatives, and financial position indicate a positive outlook for continued growth and operational improvements.

Cano Health reports revenue growth but faces financial challenges in Q2 2023

Cano Health's Q2 2023 showcased revenue growth and membership expansion, but challenges with financial performance and liquidity require strategic focus.
The company's strengths in core markets and operational efficiency initiatives offer opportunities for growth and improved profitability.
Navigating challenges with Medicare Risk Adjustment, unexpected expenses, and market exits will be crucial for Cano Health's future success and financial stability.

Cano Health reports Q3 losses, focuses on cost management strategies

Cano Health's Q3 2023 performance reflects a mix of challenges and strengths, with a focus on cost management and operational efficiency.
The company's strategic initiatives in the Medicare Advantage business show promise for revenue growth and cost reductions.
While facing liquidity concerns and financial losses, Cano Health is actively addressing these challenges through restructuring and cost-saving measures.
Opportunities for growth and improved financial performance exist through further cost optimization and strategic decision-making.

Cano Petroleum, Inc. operates as an independent oil and natural gas company. The company was founded by Jeffery S. Johnson in 1997 and is headquartered in Tulsa, OK.

MIAMI, Jan. 3, 2022 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it will participate in the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, January 11, 2022.

Cano Health to Participate in the 40th Annual J.P. Morgan Healthcare Conference

MIAMI, Nov. 24, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it will participate in the 4th Annual Evercore ISI Virtual HealthCONx Conference on Wednesday, December 1, 2021. Dr. Marlow Hernandez, Chairman and CEO, will participate in a virtual fireside chat at 8:00 a.m.

Cano Health to Participate in the 2021 Evercore ISI Virtual HealthCONx Conference

MIAMI, Nov. 15, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it will participate in the Wolfe Research Virtual Healthcare Conference on Thursday, November 18, 2021. Dr. Marlow Hernandez will participate in a virtual fireside chat at 2:00 p.m.

Cano Health to Participate in the 2021 Wolfe Research Virtual Healthcare Conference

Cano Health is a leading provider of health care services for seniors covering both Medicare and Medicaid programs. The company has a network of 126 medical centers throughout California, Florida, Illinois, Nevada, New Jersey, New Mexico, New York, Texas and Puerto Rico.

Cano Health: Health Care Services For Seniors And Underserved Population

A waning pandemic and continued acquisitions are bolstering results, even if investors can't determine exactly by how much.

Why Cano Health Jumped More Than 11% Today

Cano Health, Inc. (CANO) CEO Dr. Marlow Hernandez on Q3 2021 Results - Earnings Call Transcript

MIAMI, Nov. 9, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced financial results for the third quarter and nine months ended September 30, 2021. Third Quarter Highlights: Total membership of 210,663 including Medicare capitated members of 120,086, an increase of 105% and 65%, respectively, year-over-year Total revenue of $526.8 million, an increase of 100% year-over-year Net loss of $40.9 million Adjusted EBITDA(1) of $35.2 million, an increase of 53% year-over year Raised 2021 and 2022 guidance for total membership, total revenue, and Adjusted EBITDA "Our third quarter results once again demonstrate the successful execution of our operating model and growth strategy.

Cano Health Announces Financial Results for the Third Quarter 2021

MIAMI, Oct. 19, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO or the "Company"), a leading value-based primary care provider for seniors and underserved communities, will host a conference call on Tuesday, November 9, 2021, at 8:30 AM Eastern Time to review the Company's business and financial results for the third quarter ended September 30, 2021. A press release announcing the third quarter results will be issued earlier that morning.

Cano Health to Announce Third Quarter 2021 Results and Host Investor Conference Call

MIAMI, Oct. 15, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced the formation of an Advisory Board for Healthy Heart by Dr. Juan, its new initiative targeting prevention of cardiovascular disease. The Advisory Board will research and review the latest scientific data and recommend updates to Healthy Heart's proprietary diagnostic and treatment algorithms.

Cano Health Announces Formation of Advisory Board for Healthy Heart by Dr. Juan Rivera

MIAMI, Sept. 23, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO) today announced that its subsidiary, Cano Health, LLC (the "Issuer"), priced its offering of $300.0 million aggregate principal amount of 6.250% senior notes due 2028 (the "Notes").

Cano Health, Inc. Announces Pricing of Private Offering of $300 Million of Senior Notes

MIAMI, Sept. 14, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced the appointment of Christine Cannella as Vice President of Investor Relations, effective today.

Cano Health Announces New Head of Investor Relations

MIAMI, Sept. 13, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced a new initiative targeting cardiovascular disease, which kills one American every 36 seconds and costs the U.S. health care system $219 billion per year.1 Cano Health's new cardiovascular disease prevention program, Healthy Heart by Dr. Juan, is launching in six Cano Health medical centers across the country.

Cano Health Announces Healthy Heart Program with Dr. Juan Rivera

MIAMI, Sept. 9, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced the opening of three new medical centers in Rio Grande Valley, Texas, built to deliver high-touch, technology-enabled primary care for superior patient outcomes.

Cano Health Enters Rio Grande Valley, Texas

MIAMI, Sept. 7, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO or the "Company"), a leading value-based primary care provider for seniors and underserved communities, today announced it will participate in the Morgan Stanley 19th Annual Global Healthcare Conference on Tuesday, September 14, 2021.

Cano Health to Participate in the Morgan Stanley 19th Annual Global Healthcare Conference

Cano Health (NYSE: CANO) shares are trading higher after the company's CEO and Chief Clinical Officer late Tuesday disclosed purchases of the stock. According to Form 4 filings from Tuesday evening, CEO Marlow Hernandez purchased 1,341,220 shares at an average price of $10.76, while Chief Clinical Officer Richard Aguilar purchased 1,472,442 shares at an average price of $10.63.

Why Shares Of Cano Health Are Up Today

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Cano Health, Inc. (CANO) CEO Dr. Marlow Hernandez on Q2 2021 Results - Earnings Call Transcript

Second-quarter numbers buoy enthusiasm for the stock.

Why Shares of Cano Health Are Jumping Thursday

Cano Health Inc (NYSE: CANO) has announced Q2 revenue of $393.2 million, +130% Y/Y, compared to $171.20 million a year ago, driven by acquisitions and membership growth. The total membership of 156,038, including Medicare capitated members, reached 111,866, +57% and 54%, respectively.

Cano Health Stock Jumps Premarket On Annual Guidance Hike

MIAMI, Aug. 12, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced financial results for the second quarter and six months ended June 30, 2021. Second Quarter Highlights: Total membership of 156,038 including Medicare capitated members of 111,866, an increase of 57% and 54%, respectively, year-over-year Total revenue of $393.2 million, an increase of 130% year-over-year Net income of $4.9 million Adjusted EBITDA of $24.8 million, an increase of 53% year-over year On April 1, 2021, began providing services for approximately 8,100 Medicare beneficiaries as a Direct Contracting Entity (DCE) for the Centers for Medicare & Medicaid Services (CMS) Cano Health shares began trading on the NYSE on June 4, 2021 On June 11, 2021, completed the acquisition of University Health Care and its affiliates ("University") for approximately $600 million ($540 million in cash and $60 million in equity).

Cano Health Announces Financial Results for the Second Quarter 2021

The primary care company's growth has the attention of a key Wall Street name.

Why Cano Health Is Up More Than 9% Today

MIAMI, July 20, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO or the "Company"), a leading value-based primary care provider for seniors and underserved communities, will host a conference call on Thursday, August 12, 2021, at 8:30 AM Eastern Time to review the Company's business and financial results for the second quarter ended June 30, 2021. A press release announcing the second quarter results will be issued earlier that morning.

Cano Health to Announce Second Quarter 2021 Results and Host Investor Conference Call

MIAMI, July 6, 2021 /PRNewswire/-- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it has acquired Doctor's Medical Center ("DMC") for $300 million on July 2, 2021. DMC is a primary care provider offering an innovative and integrated approach to Medicare, Medicaid, and ACA (Exchange) members across 18 medical centers in South Florida.

Cano Health Acquires Doctor's Medical Center for $300 Million and Updates Guidance for 2021 and 2022

MIAMI, June 14, 2021 /PRNewswire/ -- Cano Health, Inc. ("Cano Health") (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, and University Health Care and its affiliates ("University"), a private medical provider dedicated to comprehensive, dependable medical services in local communities, today announced Cano Health has acquired University and its affiliates for $600 million. The bolt-on acquisition to Cano Health's proprietary population health management platform leverages Cano Health's high quality operational and clinical care services to improve health outcomes for University patients while strengthening the company's position in the fragmented Florida market.

Cano Health Acquires University Health Care for $600 Million and Increases 2021 Adjusted EBITDA Guidance to Over $100 Million

MIAMI, June 9, 2021 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO), a leading value-based primary care provider for seniors and underserved communities, today announced business and financial results for the first quarter ended March 31, 2021, prior to the closing on June 3, 2021 of the recent business combination between Cano Health and Jaws Acquisition Corp. First Quarter 2021 Financial Results $280.1 million total revenue, up 107% from the prior-year period 116,895 members, a 91% increase from the prior-year period. Organic membership increased 43% from the prior-year period Net loss of $10.5 million $22.8 million Adjusted EBITDA, up 77% from the prior-year period.

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