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Morsa Images/DigitalVision via Getty Images Cano Health ( OTC:CANOQ ) said on Tuesday it expects to emerge from Chapter 11 bankruptcy in the third-quarter. The primary care provider said that the U.S.

Bankruptcy Court for the District of Delaware had approved its global agreement with Unsecured Creditors Committee, representing the interests of the company's general unsecured creditors, with the support of the Ad Hoc Lender Group. "This is an important milestone, indicating we are nearing completion of our Court-supervised financial restructuring process with broad creditor support," said chief executive Mark Kent. Kent added that the company was on track to reach its targeted $290 million in cost reductions.



The company, which provides services to lower-income patients dependent on government insurance programs, filed for Chapter 11 bankruptcy in early February. More on Cano Health Financial information for Cano Health.

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