Benzinga | Jul 6, 2021 06:33AM EDT

Cano Health Updates Guidance To Reflect DMC Acquisition; Raises FY21 Sales Guidance From $1.4B-$1.5B To $1.5B, Sees FY22 Sales $2.23B vs $2.15B Est.

Guidance Update

With the close of the DMC acquisition, Cano Health is updating its previous guidance given on June 14, 2021. In contrast to prior 2021 guidance, which included projections forGuidance Update

With the close of the DMC acquisition, Cano Health is updating its previous guidance given on June 14, 2021. In contrast to prior 2021 guidance, which included projections for potential acquisitions, this guidance excludes the impact of any future acquisitions.

* Full year 2021 revenue of approximately $1.5 billion (from $1.4-$1.5 billion previously), an increase of approximately 80% year-over-year

* Full year 2021 adjusted EBITDA of approximately $110 million (from $100 million to $110 million previously)

* 2021 ending membership of 205,000-210,000 (from 154,000-162,000 previously)

* 2021 ending medical centers of 121-126 (from 95-105 previously)

* Acquisition pipeline remains robust; future acquisitions would be accretive to the above guidance

* Guidance continues to exclude the potential upside impact of CMS' Direct Contracting Entity (DCE) program