Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Meta Unveils V-JEPA 2 AI Breakthrough to Help Robots Understand the Physical World

    June 13, 2025

    Mercedes G580 Electric G-Wagen Struggles to Find Buyers

    June 3, 2025

    MIT’s New Tool “SeaSplat” Reveals True Colors of the Ocean in 3D

    May 23, 2025
    Facebook X (Twitter) Instagram LinkedIn
    • About Us
    • Press Release
    Friday, June 13
    Facebook X (Twitter) LinkedIn Instagram
    Business Leaders Review: Best Business Magazine and News OnlineBusiness Leaders Review: Best Business Magazine and News Online
    • Home
    • Magazines
    • Featured Leaders
    • Technology
      • Big Data
      • Artificial Intelligence
      • Robotics
      • Cloud
      • Cyber Security
      • Storage
      • IoT
      • Blockchain
      • Data Analytics
    • Industry
      • Banking & Finance
      • Construction
      • Digital Marketing
      • Economy
      • Education
      • EV Industry
      • Food & Beverage
      • Healthcare
      • Legal
      • Manufacturing
      • Mining & Metals
      • Pharmaceutical
    • Testimonials
    • Latest News
    • Blogs
    • Awards
    • Contact Us
    Business Leaders Review: Best Business Magazine and News OnlineBusiness Leaders Review: Best Business Magazine and News Online
    Home » Cano Health Contemplates Asset Sale Amid Financial Woes and Workforce Reduction
    Healthcare

    Cano Health Contemplates Asset Sale Amid Financial Woes and Workforce Reduction

    By NikhilSeptember 2, 2023
    Cano Health

    Key Pointers:

    • Cano Health, a primary care giant, mulls over selling operational assets due to cash reserve depletion.
    • A workforce reduction of 17% (700 employees) follows as the company grapples with financial challenges.
    • Interim CEO Mark Kent leads operational efficiency drive and comprehensive business review.

    Cano Health, a prominent player in the primary care sector, is actively considering the sale of its operational assets as a solution to its depleting cash reserves. The company’s financial hardships have led to a significant workforce reduction, resulting in the layoff of 700 employees, which constitutes approximately 17% of its staff.

    During the recent second-quarter earnings call, interim CEO Mark Kent informed investors that the company is collaborating with advisors to explore potential options for the sale of some or all operational assets. He highlighted the progress made so far but noted that there is no fixed timeline for finalizing any potential deal.

    The company’s stock witnessed a sharp decline of 50.90% to 75 cents per share in after-hours trading following this announcement, underscoring investor concerns about the company’s financial health.

    Kent, who assumed the role of interim CEO in June, has been focused on enhancing operational efficiency and managing medical costs more effectively. He emphasized that while Cano Health’s mission and vision remain unchanged, achieving profitability requires a renewed strategic approach.

    This move isn’t the first time Cano Health has explored a potential sale. In the past, CVS Health was reportedly interested in acquiring the company, but negotiations fell through. Cano Health’s management is dedicated to navigating these challenges and reshaping its operations for a sustainable future.

    Read more news on Healthcare here!

    Asset Sale Cano Health Healthcare Giant

    Related Posts

    Meta Unveils V-JEPA 2 AI Breakthrough to Help Robots Understand the Physical World

    June 13, 2025

    Mercedes G580 Electric G-Wagen Struggles to Find Buyers

    June 3, 2025

    MIT’s New Tool “SeaSplat” Reveals True Colors of the Ocean in 3D

    May 23, 2025

    GLP-1 and Weight-Loss Drugs May Curb Alcohol Cravings, Study Finds

    May 14, 2025

    RAGEN & StarPO Aim to Tame LLM Instability in Complex Tasks

    April 25, 2025

    Storage Vendors Compete for AI Dominance at Nvidia GTC 2025

    April 3, 2025
    Top Posts

    Meta Unveils V-JEPA 2 AI Breakthrough to Help Robots Understand the Physical World

    June 13, 2025

    Mercedes G580 Electric G-Wagen Struggles to Find Buyers

    June 3, 2025

    MIT’s New Tool “SeaSplat” Reveals True Colors of the Ocean in 3D

    May 23, 2025
    Don't Miss

    Meta Unveils V-JEPA 2 AI Breakthrough to Help Robots Understand the Physical World

    June 13, 2025

    Key Highlights Meta has unveiled V-JEPA 2, a significant leap in robotics AI that aims…

    Mercedes G580 Electric G-Wagen Struggles to Find Buyers

    June 3, 2025

    MIT’s New Tool “SeaSplat” Reveals True Colors of the Ocean in 3D

    May 23, 2025

    GLP-1 and Weight-Loss Drugs May Curb Alcohol Cravings, Study Finds

    May 14, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn
    About Us
    About Us

    Business Leaders Review is a global print and digital monthly and yearly magazine, which provides a platform to showcase business/tech leaders and their company’s profile from various sectors. Our aim is to publish the c-suite leaders stories.

    We are helping the leaders & readers to showcase their ideas and innovations to the business and tech world in this current market situation along with their awards and achievements. Doing so we hope to leverage thousands of businesses and personnel around the globe.

    Most Popular

    Meta Unveils V-JEPA 2 AI Breakthrough to Help Robots Understand the Physical World

    Mercedes G580 Electric G-Wagen Struggles to Find Buyers

    MIT’s New Tool “SeaSplat” Reveals True Colors of the Ocean in 3D

    Latest Magazines
    Facebook X (Twitter) LinkedIn Instagram
    • Home
    • Our Clients
    • TECHNLOGY NEWS
    • Industry News
    • Contact Us
    • Privacy Policy
    • Reprints and Permissions
    © 2025 Business Leaders Review LLC | All Rights Reserved | Empowering Communication Globally

    Type above and press Enter to search. Press Esc to cancel.