Humana, Other Potential Buyers Circle Cano Health
Deal For primary-care provider could be struck in next several weeks
Humana Inc. HUM +1.31% and other possible buyers are circling Cano Health Inc., CANO +33.91% according to people familiar with the situation, as healthcare heavyweights scramble to snap up primary-care providers.
The talks are serious and a deal to purchase Cano could be struck in the next several weeks, assuming the negotiations don’t fall apart, some of the people said. Cano had a market value of about $3 billion Thursday afternoon.
Miami-based Cano operates primary-care centers in California, Florida, Nevada, New Mexico, Texas, Illinois, New York, New Jersey and Puerto Rico, according to documentation from the company. It mainly serves Medicare Advantage members, a private-sector alternative to Medicare for seniors.
It couldn’t be learned who else is in the mix, but Cano could be Humana’s to lose as the health insurer has a right of first refusal on any sale, part of an agreement that was originally struck in 2019.