Healthcare DIVE September 26, 2023
Rebecca Pifer

The divestiture to Humana’s CenterWell Senior Primary Care business comes after Cano CEO Mark Kent said in August the company was exploring a potential sale amid its worsening liquidity position.

Dive Brief:

  • Beleaguered primary care network Cano Health has sold its Texas and Nevada centers to a Humana subsidiary for almost $67 million.
  • The divestiture to Humana’s CenterWell Senior Primary Care business on Tuesday comes after Cano CEO Mark Kent said in August the company was exploring a potential sale amid its worsening liquidity position.
  • Cano also plans to exit markets in California, Illinois, New Mexico and Puerto Rico this year, and lay off 700 employees in the third quarter.

Dive Insight:

At the end of June, Cano...

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Topics: Insurance, Mergers & Acquisitions / JV, Payer, Primary care, Provider, Trends
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