Healthcare DIVE November 10, 2023
Emily Olsen

The struggling primary care chain, which is still seeking a buyer, has exited from several state markets.

Dive Brief:

  • Cano Health cut 21% of its workforce, or approximately 842 employees, in the third quarter as the primary care chain restructured and shed assets to boost its financial performance.
  • The company posted a net loss of $491.7 million during the quarter — more than four times greater than its losses during the prior-year period — driven by a $354 million impairment charge and poor operating results from higher third-party medical costs.
  • Cano now operates 126 medical centers, and will continue to assess its geographic footprint, interim CFO Eladio Gil said on a Thursday earnings call. The company completed its...

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Topics: Primary care, Provider
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