Cano falls as shareholders demand management changes

Cano Health

15/08/2023 11:14

** Shares of primary care provider Cano Health  CANO.N  fall
~6% to 42 cents before the bell 
    ** Shareholders including former directors Elliot
Cooperstone and Barry Sternlicht said late on Monday CANO should
appoint Mark Kent as its permanent CEO
    ** Kent is currently interim CEO of CANO 
    ** Elliot Cooperstone also asks CANO board to appoint his
nominee Guy Sansone and former director Lewis Gold to assist
with a potential sale of the company 
    ** Co had recently flagged doubts on its ability to continue
as a going concern and said it was pursuing a potential sale 
    ** CANO did not immediately respond to a Reuters request for
comment 
    ** Elliot Cooperstone holds less than 1% stake in the
company as of Aug. 13 and served on CANO's board until March
this year
    ** As of last close, stock down ~68% YTD
     

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))