Welcome to our dedicated page for CANO news (Ticker: CANO), a resource for investors and traders seeking the latest updates and insights on CANO stock.
Cano Health, Inc. (CANO) operates at the intersection of primary care and value-based healthcare delivery, serving patients across the United States and Puerto Rico. This page aggregates official news and press releases related to the company’s operational developments, financial milestones, and strategic initiatives.
Investors and stakeholders will find timely updates on earnings reports, partnership announcements, leadership changes, and innovations in patient-centered care delivery. Our curated collection serves as a reliable resource for tracking CANO’s progress in optimizing healthcare costs while improving clinical outcomes through its integrated care model.
Key updates include details on Medicare Advantage programs, operational efficiency initiatives, and technology integrations that enhance service delivery. Bookmark this page to stay informed about Cano Health’s evolving role in reshaping value-based primary care through data-driven approaches and community-focused solutions.
Cano Health, Inc. (NYSE: CANO) will announce its first-quarter 2023 financial results after market close on May 9, 2023. A conference call is set for 5:00 PM Eastern Time on the same day, where company executives will discuss the results.
Participants can join by dialing (888) 660-6359 for U.S. callers and (929) 203-0867 for international participants, using conference ID 8371699. The call will be accessible via webcast on the Cano Health investor relations website, with a replay available for 30 days post-call.
Cano Health, headquartered in Miami, Florida, provides value-based primary care to around 310,000 members across nine states and Puerto Rico, employing over 4,000 staff.
Cano Health has announced the opening of three new medical centers in South Florida, located in Cutler Bay, Plantation, and Miami. These expansions aim to increase access to primary care, wellness services, physiotherapy, X-ray, and mental health services for the senior community. With a commitment to enhancing patient health, Cano Health emphasizes its strategic growth plans to improve its footprint in the area. The company, founded in 2009, is a technology-powered healthcare provider serving approximately 310,000 members across nine states and Puerto Rico. Cano Health employs over 4,000 individuals and is dedicated to delivering personalized healthcare that enhances the quality of life for its patients.
Cano Health has officially separated the roles of Chairman and CEO as of April 17, 2023. Solomon Trujillo, previously the lead independent director, is now appointed as the non-executive Chairman. This strategic move allows CEO Dr. Marlow Hernandez to concentrate on executing operational plans and enhancing governance. Trujillo emphasized the company’s commitment to creating long-term shareholder value and improving free cash flow. Cano Health, a technology-driven healthcare provider, serves around 310,000 members and operates in nine states and Puerto Rico. The company aims to transform healthcare by delivering personalized, value-based primary care.
Cano Health has reaffirmed its commitment to enhancing shareholder value through a letter from its Board of Directors. The Board emphasizes their confidence in the company's fundamentals and potential for long-term growth, citing a projected $1.7 trillion addressable market due to the aging U.S. population and a shift towards value-based care. In 2022, Cano Health achieved approximately $2.7 billion in total revenues and $74 million in Adjusted EBITDA. The company aims to improve operational efficiency and cash flow through strategies like optimizing medical capacity, enhancing patient engagement, and consolidating operations. Additionally, Cano Health has appointed a new Chief Strategy Officer to boost organizational effectiveness and enhance governance by separating the roles of Chairman and CEO. The Board is taking steps to counter criticisms from former directors, maintaining that their focus is on long-term shareholder interests.
Cano Health, Inc. (NYSE: CANO) faces a significant governance crisis as three directors owning approximately 36% of the company resigned, citing serious dissatisfaction among shareholders and a lack of oversight by the current board. Following their resignations, they urged the board to allow shareholders to vote on an alternative board slate at the upcoming 2023 Annual Meeting. The group highlighted that Cano's stock has declined by 83% over the past year, attributing this to inadequate board oversight of CEO Marlow Hernandez and concerning undisclosed related-party transactions. They assert the necessity for immediate changes and transparency, aiming to nominate new directors and propose removal of current ones for cause. The group emphasizes the need for action given the drastic changes in circumstances.
Cano Health has faced serious shareholder concerns regarding management practices and governance following the resignation of major shareholders from its board. The group, which owns 36% of Cano's shares, criticized CEO Dr. Marlow Hernandez for his capital allocation and strategic decisions that have led to an -83% shareholder return over the past year and a staggering -92.5% since going public in 2021. They highlighted reckless spending of approximately $535 million from its initial capital and most of $1 billion in debt capital in misguided acquisitions. The letter calls for urgent governance changes and the need for a new leadership team focused on enhancing shareholder value, particularly by refocusing on the high-potential Florida Medicare Advantage market.
