Cano Health adds 16% amid potential takeover interest from Humana

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• Cano Health (NYSE:CANO) jumped 16% in the morning hours Wednesday amid speculation that the operator of primary care medical services could be a potential acquisition target of health insurer Humana (HUM).
• According to Dealreporter, an acquisition of Cano (CANO) could be “a more readily accessible option” for Humana (HUM) as the latter has a right of first refusal in a transaction worth 20% of CANO’s revenue or income.
• Humana (HUM) is already in the process of developing primary care clinics of its own and via a joint venture with Welsh, Carson, Anderson & Stowe, a private equity firm.
• The news of buyout interest for Cano (CANO) comes a day after Bloomberg said that 1Life Healthcare (ONEM), an operator of the One Medical primary care platform, was considering options after gaining takeover interest.
• According to the report, CVS Health (CVS) had also approached 1Life (ONEM) for an offer. However, the discussions with the pharmacy retailer have ended while the interest from other bidders remained.

Comments

[Boilermaker_KK]

There is a deal in the near future involving CANO. Daniel Loeb has a large position in CANO and has publicly expressed his desire to capture its fair value thru strategic means if necessary.

Sounds like he is wanting to cash out with a sale/merger. Something is bubbling.

Look for $8 or more.

[USC Heisman winner]

Wait, there also was speculation that Humana was going to acquire Centene.

Cano would be just a plug and play. CNC would be much more complicated.

Good luck to all.