Benzinga | Jul 6, 2021 06:31AM EDT

Cano Health Acquires Doctor's Medical Center For $300M

Cano Health, Inc. ("Cano Health") (NYSE:CANO), a leading value-based primary care provider for seniors and underserved communities, today announced it has acquired Doctor's Medical Center ("DMC") for $300 million on July 2, 2021. DMC is a primary care provider offering an innovative and integrated approach to Medicare, Medicaid, and ACA (Exchange) members across 18 medical centers in South Florida. The acquisition expands Cano Health's membership, and further enhances the company's leading position in the fragmented Florida market. With 15 of the 18 medical centers serving predominantly adult and pediatric Medicaid members, the addition of DMC also enables Cano Health to deliver more targeted services to its existing Medicaid and ACA members.