Cano Health Opens Three New Medical Centers in South Florida

Facilities to Deliver Health & Wellness Offerings for the Senior Community

Florida, UNITED STATES


Miami, FL, April 24, 2023 (GLOBE NEWSWIRE) -- Cano Health, Inc. (“Cano Health” or the “Company”), a leading value-based primary care provider and population health company, announced it has opened three new medical centers throughout South Florida in an effort to reach more patients and introduce its services to a wider population in the market.

These centers are located at (1) 18469 South Dixie Highway in Cutler Bay; (2) 8138 West Broward Boulevard in Plantation; and (3) 1000 Park Centre Boulevard in Miami. The medical centers will offer services such as primary care, wellness, physiotherapy, Xray, and Serenity mental health services.

“As a primary care company focused on improving patient health, Cano Health’s presence in the community plays a vital role in how we connect with and treat our patients,” said Bob Camerlinck, the Company’s Chief Operating Officer. “The opening of these new medical centers expands our presence in our largest market, allowing us to bring many of the services our patients know and trust to more of those who may need it most. We are committed to continuing to be strategic in our growth as we evaluate new opportunities to extend our footprint.”

About Cano Health 

Cano Health (NYSE: CANO) is a high-touch, technology-powered healthcare company delivering personalized, value-based primary care to approximately 310,000 members. With its headquarters in Miami, Florida, Cano Health is transforming healthcare by delivering primary care that measurably improves the health, wellness, and quality of life of its patients and the communities it serves. Founded in 2009, Cano Health has more than 4,000 employees, and operates primary care medical centers and supports affiliated providers in nine states and Puerto Rico. For more information, visit canohealth.com or investors.canohealth.com.

 

Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to future events and involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and could materially affect actual results, performance or achievements. Such forward-looking statements include, without limitation, our anticipated performance, operations, financial strength, potential, and prospects for long-term shareholder value creation, our anticipated results of operations, including our business strategies, our projected costs, prospects and plans, and other aspects of our operations or operating results. These forward-looking statements generally can be identified by phrases such as "will," "expects," "anticipates," "believes," "foresees," "forecasts," "plans," "intends," "estimates" or other words or phrases of similar import, including, without limitation, are being committed to continuing to be strategic in our growth as we evaluate new opportunities to extend our footprint. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, changes in market or industry conditions, the regulatory environment, competitive conditions, and/or consumer receptivity to our services; changes in our strategy, future operations, prospects and plans; developments and uncertainties related to the Direct Contracting Entity program; our ability to realize expected financial results, including with respect to patient membership, total revenue and earnings; our ability to predict and control our medical cost ratio; our ability to grow market share in existing markets and continue our growth; our ability to integrate our acquisitions and achieve desired synergies; our ability to maintain our relationships with health plans and other key payors; our future capital requirements and sources and uses of cash, including funds to satisfy our liquidity needs; our ability to attract and retain members of management and our Board of Directors; and/or our ability to recruit and retain qualified team members and independent physicians. Actual results may also differ materially from such forward-looking statements for a number of other reasons, including those set forth in our filings with the SEC, including, without limitation, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 15, 2023, as amended by our Annual Report on Form 10-K/A, filed with the SEC on April 7, 2023 (the "2022 Form 10-K"), as well as our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we have filed or will file with the SEC during 2023 (which may be viewed on the SEC's website at http://www.sec.gov or on our website at http://www.investors.canohealth.com/ir-home), as well as reasons including, without limitation, our experiencing delays or difficulties in, and/or unexpected or less than anticipated results from our efforts to achieve strategic growth as we extend our footprint, such as due to less than anticipated capacity utilization at our medical centers; higher than expected costs and expenses; less than anticipated growth in revenues, Adjusted EBITDA margins and/or cash flows; the impacts of a broad recessionary economic environment, higher interest rates and/or a higher inflationary environment; less than anticipated sources of liquidity; unanticipated demands on our available sources of cash; and/or tightness in the credit or M&A markets. For a detailed discussion of other risks and uncertainties that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, please refer to our filings with the SEC, including, without limitation, our 2022 Form 10-K. Factors other than those listed above could also cause our results to differ materially from expected results. Forward-looking statements speak only as of the date they are made and, except as required by law, we undertake no obligation or duty to publicly update or revise any forward-looking statement, whether to reflect actual results of operations; changes in financial condition; changes in general U.S. or international economic, industry conditions; changes in estimates, expectations or assumptions; or other circumstances, conditions, developments or events arising after the issuance of this release. Additionally, the business and financial materials and any other statement or disclosure on or made available through the Company's websites or other websites referenced herein shall not be incorporated by reference into this release.

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