Healthcare DIVE January 3, 2024
The struggling primary care chain is now targeting $290 million in cost reductions by the end of this year.
Dive Brief:
- Cano Health received a notice from the New York Stock Exchange warning the struggling primary care chain it could be delisted for failing to comply with market capitalization rules.
- The company’s total market capitalization, or the market value of its outstanding shares, has been less than $50 million over a 30 trading-day period and its stockholders’ equity is less than $50 million, according to a press release from the provider last week.
- To regain compliance, Cano is now targeting $290 million in cost reductions by the end of this year, including $65 million it previously disclosed. The...
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