secwatch.observer — SEC 8-K summary
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Issuer:     Cano Health, Inc. (—)
CIK:        0001800682
Form:       8-K
Filed at:   2023-09-29T23:59:59+00:00
Accession:  0001193125-23-247562
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cano Health sells Texas/Nevada senior primary care centers to Humana's CenterWell for ~$66.7M
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- Total value ~$66.7M: $35.4M cash at close (net of $1.9M holdback) plus liability releases.
- Net proceeds used to repay revolver; Q3 2023 financial maintenance covenant waived.
- Agreement includes non-compete and non-solicit in Texas/Nevada; TSA up to 6 months + extensions.
- Pro forma shows removal of centers' ops: six-month 2023 net loss per share improves from $(0.66) to $(0.62).
- Centers contributed ~$41.2M revenue in H1 2023 and ~$63M in FY 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800682/000119312523247562/0001193125-23-247562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800682/000119312523247562/d538362d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-247562

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