Benzinga | Jan 7, 2022 01:04PM EST

Cano Health Reports Q4 Membership 227K, Up 114% Year Over Year

Fourth Quarter 2021 Membership of 227,000; an increase of 114% year-over-year

January 1, 2022 Membership of 253,000

MIAMI, Jan. 7, 2022 /PRNewswire/ -- Cano Health, Inc. (NYSE:CANO), a leading value-based primary care provider for seniors and underserved communities, announced today its membership at the end of the fourth quarter of 2021 and as of January 1, 2022.



Total membership at the end of the fourth quarter of 2021 was 227,000, up 114% year-over-year, and above prior year-end 2021 guidance of 218,000 members. Organic membership was 148,000, up 40% year-over-year. Membership at the end of the fourth quarter included approximately 118,300 Medicare Advantage members, 7,700 Medicare direct contracting entity (DCE) members, 66,500 Medicaid members, and 34,500 ACA members.

As of January 1, 2022, Cano Health's total membership increased to approximately 253,000 total members. The increase in membership was entirely organic and includes members from the conclusion of the Medicare Advantage open enrollment period, along with the addition of newly enrolled Medicare DCE members.

"We are humbled that so many patients are choosing us and putting their trust in us," said Dr. Marlow Hernandez, Chairman and Chief Executive Officer of Cano Health. "We look forward to continuing to help our members live longer and fuller lives, adding value for all stakeholders."



Members Members Members

Product Line as of 9/30/21 as of 12/31/21 as of 1/1/22

Medicare Advantage 112,309 118,300 122,000

Medicare DCE 7,777 7,700 30,000

Medicaid 63,871 66,500 66,500

ACA 26,706 34,500 34,500

Total 210,663 227,000 253,000

Note: Members as of 9/30/21 are as reported. Other values are approximate.

Cano Health plans to report its financial results for the fourth quarter and full year ended December 31, 2021 during its upcoming earnings call and will provide an update to 2022 guidance at that time. Details will follow in a subsequent release.

As previously announced, Cano Health will participate in the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, January 11, 2022. Dr. Marlow Hernandez will present virtually at 10:30 a.m., Eastern Time. A live webcast will be accessible through Cano Health's Investor Relations website at https://investors.canohealth.com/. The webcast will be archived for replay following the conference.