Cano Health sinks on raising going concern doubts

Cano Health

10/08/2023 21:36

Aug 10 (Reuters) - Primary care provider Cano Health
 CANO.N  said on Thursday there is substantial doubt about the
company's ability to continue as a going concern within one
year, sending shares down 37.5% after the bell. 
    Cano also reported it is pursuing a process to sell the
company and expects to reduce its workforce by about 700
employees, or 17% of its current workforce, in the third quarter
of 2023. 

 (Reporting by Pratik Jain in Bengaluru; Editing by Shilpi
Majumdar)
 ((Pratik.Jain@thomsonreuters.com;))