Brief: Cano Health Sells Substantially All Of Its Primary Care Centers In Texas & Nevada To Centerwell Senior Primary Care

Cano Health

26/09/2023 14:06

Sept 26 (Reuters) - Cano Health Inc  CANO.N :
    * CANO HEALTH SELLS SUBSTANTIALLY ALL OF ITS PRIMARY CARE
CENTERS
IN TEXAS & NEVADA TO CENTERWELL SENIOR PRIMARY CARE
    * CANO HEALTH: TOTAL VALUE OF TRANSACTION TO CANO HEALTH IS
APPROXIMATELY $66.7 MILLION, CONSISTING OF APPROXIMATELY $35.4
MILLION IN CASH PAID AT CLOSING
    * : FOLLOWING TRANSACTION, CANO HEALTH HAS AVAILABLE
LIQUIDITY
CONSISTING OF APPROXIMATELY $109 MILLION OF UNRESTRICTED CASH
    * CANO HEALTH : INTENDS TO USE APPROXIMATELY $80 MILLION OF
SUCH
CASH TO REPAY A PORTION OF ITS $120 MILLION REVOLVING CREDIT
FACILITY BY END OF Q3 2023
    * : $80 MILLION OF PLANNED REPAYMENTS UNDER REVOLVING CREDIT
FACILITY WILL REMAIN AVAILABLE FOR FUTURE BORROWINGS

Source text for Eikon:  ID:nPn3DJPN5a 
Further company coverage:  CANO.N 

 ((Reuters.Briefs@thomsonreuters.com;))