HealthExec July 3, 2024
Cano Health announced it has emerged from bankruptcy as a “reorganized private company with a significantly improved capital structure and optimized operations,” after approval from a court on June 28.
Cano Health provides primary care service to patients in Florida, and its bankruptcy was triggered by heavy debts and rising operation costs. The company filed for bankruptcy in February.
In its announcement, Cano Health said it has reduced its debts and converted more than $1 billion into stock and other securities to entice investors. The company also said it’s been provided $200 million in funding from existing investors to aid in its reorganization.
“This has been a transformative year, and the successful conclusion of our court-supervised restructuring...
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