Positions the Company to Advance Its Ongoing Transformation Plan Designed to Significantly Reduce Costs, Enhance Productivity, and Improve Cash Flow

定位公司推进其正在进行的转型计划，旨在显著降低成本、提高生产力和改善现金流

Receives Commitment for $150 Million in New Capital

获得1.5亿美元新资本的承诺

Ensures Patients Continue to Receive High-Quality Care Across Medical Centers

确保患者在各个医疗中心继续获得高质量的护理

MIAMI, Feb. 4, 2024 /PRNewswire/ -- Cano Health, Inc. (NYSE: CANO) ('Cano Health' or the 'Company'), a leading value-based primary care provider and population health company, today announced that it has entered into a Restructuring Support Agreement (the 'RSA') with lenders (the 'Ad Hoc Lender Group') holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes.

迈阿密，2024年2月4日/PRNewswire/--卡诺健康公司（纽约证券交易所：卡诺）（“卡诺健康”或“公司”），一家领先的基于价值的初级保健提供者和人口健康公司，今天宣布，它已与持有其约86%的有担保循环贷款和定期贷款债务以及92%的优先无担保票据的贷款人（“特设贷款人集团”）签订了重组支持协议（“RSA”）。

This agreement enables Cano Health to substantially reduce its debt and position the Company to achieve long-term success..

该协议使卡诺健康能够大幅减少其债务，并使公司取得长期成功。。

To facilitate this restructuring, Cano Health has initiated prearranged voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the 'Court'). It has also received a commitment for $150 million in new debtor-in-possession financing from certain of its existing secured lenders, which is subject to Court approval.

为了促进这一重组，卡诺健康已在美国特拉华州破产法院（“法院”）启动了预先安排的自愿第11章程序。它还从某些现有担保贷款人那里获得了1.5亿美元的新债务人占有融资承诺，该承诺有待法院批准。

This new capital is expected to provide sufficient liquidity to support the Company's ongoing operations throughout the restructuring process..

预计这笔新资本将提供足够的流动性，以支持公司在整个重组过程中的持续运营。。

Mark Kent, CEO of Cano Health, said, 'We have taken decisive actions over the past few months to advance our previously disclosed Transformation Plan and strengthen our financial position. By entering this court-supervised restructuring process, we are positioning the Company to achieve those goals on an accelerated basis and focus on what we do best – improving health outcomes for patients at a lower cost.

卡诺健康（Cano Health）首席执行官马克·肯特（Mark Kent）表示，“过去几个月，我们采取了果断行动，推进了之前披露的转型计划，并加强了财务状况。通过进入这一由法院监督的重组过程，我们将公司定位为加速实现这些目标，并专注于我们最擅长的事情——以较低的成本改善患者的健康状况。

I am confident we will emerge from this process a stronger organization with the necessary resources in place to continue delivering the quality of care our patients expect and deserve. We appreciate the support of the majority of our creditors as we pursue this goal.'.

我相信，在这个过程中，我们将成为一个更强大的组织，拥有必要的资源，继续提供我们患者期望和应得的护理质量。在我们追求这一目标的过程中，我们感谢大多数债权人的支持。”。

Since Mark Kent assumed the permanent CEO role in August 2023, Cano Health has significantly advanced and accelerated its strategy to focus on its core Florida Medicare Advantage and ACO REACH lines of business, including successfully divesting operations in Texas and Nevada and exiting the California and Puerto Rico markets.

自马克·肯特（Mark Kent）于2023年8月担任永久首席执行官以来，卡诺健康（Cano Health）已大大推进并加速了其战略，将重点放在其佛罗里达州医疗保险核心优势和ACO业务范围上，包括成功剥离德克萨斯州和内华达州的业务，并退出加利福尼亚州和波多黎各市场。

As a result of its ongoing operational Transformation Plan, the Company expects to achieve approximately $290 million of annualized cost reductions by the end of 2024..

由于其正在进行的运营转型计划，该公司预计到2024年底将实现约2.9亿美元的年度成本削减。。

Cano Health is filing with the Court a series of customary 'first day' motions to maintain business-as-usual operations on all fronts:

卡诺健康（Cano Health）正在向法院提交一系列惯常的“首日”动议，以维持各方面的正常运营：

Paying associate wages, including for its doctors and nurses, without interruption;

不间断地支付员工工资，包括医生和护士的工资；

Continuing operations and honoring obligations to its affiliate physician groups;

继续经营并履行其附属医师集团的义务；

Ensuring patients at its clinics continue to receive quality value-based healthcare; and

确保其诊所的患者继续获得基于价值的优质医疗保健；和

Seeking authority to pay the existing pre-petition claims of certain vendors that are critical to the health and safety of Cano Health's patients and critical to the operation of the Company's medical centers. The Company has authority to continue making ordinary course payments for all authorized goods and services provided on or after the filing date..

寻求授权支付某些供应商的现有申请前索赔，这些索赔对卡诺健康公司患者的健康和安全至关重要，对公司医疗中心的运营至关重要。公司有权继续对在申请日期当天或之后提供的所有授权货物和服务进行正常支付。。

Court approval of these routine motions, which the Company expects to receive in short order, will help facilitate a smooth transition into the process and ensure the Company's medical centers and its physician affiliates can continue providing uninterrupted service to all patients.

该公司预计将在短时间内收到法院对这些例行动议的批准，这将有助于顺利过渡到这一过程，并确保该公司的医疗中心及其医师附属机构能够继续为所有患者提供不间断的服务。

Given the broad extent of creditor support, Cano Health expects to file and receive Court approval of a Plan of Reorganization and Disclosure Statement expeditiously, while also exploring paths to maximize value, and it expects to emerge from the restructuring process in the second quarter of 2024.

鉴于债权人的广泛支持，Cano Health预计将迅速提交重组计划和披露声明并获得法院批准，同时探索实现价值最大化的途径，预计将于2024年第二季度从重组过程中产生。

The RSA provides for the conversion of nearly $1 billion in secured debt to a combination of new debt and full equity ownership in the reorganized company. It also allows for solicitation of strategic partnerships and potential offers – including the sale of the company or substantially all its assets – that may result in a value-maximizing outcome to the Company's stakeholders..

RSA规定将近10亿美元的有担保债务转换为新债务和重组公司的全部股权。它还允许征求战略合作伙伴关系和潜在报价，包括出售公司或其大部分资产，这可能会为公司的利益相关者带来价值最大化的结果。。

Additional information about Cano Health's restructuring proceedings is available at https://www.kccllc.net/CanoHealth. Creditors with questions may contact the Company's Claims Agent, Kurtzman Carson Consultants LLC ('KCC'), at [email protected] and (888) 251-2679 (U.S./Canada) or (310) 751-2609 (International)..

有关Cano Health重组程序的更多信息，请访问https://www.kccllc.net/CanoHealth.有疑问的债权人可通过[电子邮件保护]和（888）251-2679（美国/加拿大）或（310）751-2609（国际）联系公司的索赔代理Kurtzman Carson Consultants LLC（“KCC”）。。

Weil, Gotshal & Manges LLP is serving as legal counsel; Houlihan Lokey Capital Inc. is serving as investment banker; and AlixPartners LLP is serving as financial advisor to Cano Health.

Weil，Gotshal&Manges LLP担任法律顾问；Houlihan Lokey Capital Inc.担任投资银行家；AlixPartners LLP是卡诺健康的财务顾问。

The Ad Hoc Lender Group is represented by Gibson, Dunn & Crutcher as legal counsel, Evercore as investment banker, and Berkeley Research Group as financial advisor.

特设贷款人集团由吉布森、邓恩和克鲁彻（Gibson，Dunn&Crutcher）担任法律顾问，Evercore担任投资银行家，伯克利研究集团（Berkeley Research Group）担任财务顾问。

About Cano Health

关于卡诺健康

Cano Health (NYSE: CANO) is a high-touch, technology-powered healthcare company delivering personalized, value-based primary care to approximately 310,000 members. Founded in 2009, with its headquarters in Miami, Florida, Cano Health is transforming healthcare by delivering primary care that measurably improves the health, wellness, and quality of life of its patients and the communities it serves through its primary care medical centers and supporting affiliated providers.

卡诺健康（纽约证券交易所代码：Cano）是一家高接触性、技术支持的医疗保健公司，为大约310000名会员提供个性化、基于价值的初级保健。Cano Health成立于2009年，总部位于佛罗里达州迈阿密，通过提供初级保健，通过初级保健医疗中心和支持附属提供者，显著改善患者和社区的健康、身心健康和生活质量，正在改变医疗保健。

For more information, visit canohealth.com or investors.canohealth.com..

有关更多信息，请访问canohealth.com或investors.canohealth.com。。

Forward Looking Statements

前瞻性声明

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to future events and involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and could materially affect actual results, performance or achievements.

本新闻稿包含经修订的《1933年证券法》第27A节和经修订的《1934年证券交易法》第21E节所指的前瞻性声明。前瞻性陈述与未来事件有关，涉及已知和未知的风险、不确定性和其他因素，在某些情况下，这些因素超出了我们的控制范围，可能会对实际结果、业绩或成就产生重大影响。

These forward-looking statements generally can be identified by words such as 'will,' 'shall,' 'may,' 'expects,' 'anticipates,' 'believes,' 'foresees,' 'forecasts,' 'plans,' 'seeks,' 'intends,' 'estimates' or other words or phrases of similar import. Such statements include, without limitation, statements regarding: (i) the RSA, the transactions contemplated thereby, and the expected benefits thereof, including that it will enable the Company to substantially reduce its debt and position the Company to achieve long-term success; (ii) the Company's Chapter 11 proceedings, including, without limitation, the outcome thereof and the Company's expectations as to receipt of and timing for Court approvals and the timing of its emergence from the proceedings, as well as the expected benefits of the proceedings, such as that they will strengthen the Company's financial condition, position the Company to advance its ongoing Transformation Plan that is designed to significantly reduce costs, enhance productivity, and improve cash flow, ensure patients continue to receive high-quality care across medical centers and improve health outcomes for patients at a lower cost; (iii) the availability of liquidity from the Company's debtor-in-possession financing and the various conditions to which such debtor-in-possession financing is subject and the risk that.

这些前瞻性陈述通常可以用“意志”、“应该”、“可能”、“期望”、“预期”、“相信”、“预见”、“预测”、“计划”、“寻求”、“打算”、“估计”或其他类似含义的单词或短语来识别。此类声明包括但不限于以下声明：（i）RSA、其预期交易及其预期收益，包括它将使公司能够大幅减少债务并使公司取得长期成功；（ii）公司的第11章诉讼，包括但不限于诉讼结果和公司对法院批准的接收和时间安排的期望，以及诉讼出现的时间安排，以及诉讼的预期收益，例如诉讼将加强公司的财务状况，使公司能够推进正在进行的转型计划，该计划旨在显着降低成本，提高生产力，改善现金流，确保患者继续在医疗中心获得高质量的护理，并以较低的成本改善患者的健康状况；（iii）公司持有债务人融资的流动性可用性以及该持有债务人融资所受的各种条件和风险。

The Company cautions that trading in the Company's securities during the pendency of the Chapter 11 proceedings is highly speculative and poses substantial risks. Trading prices for the Company's securities may bear little or no relationship to the actual recovery, if any, by holders of the Company's securities in the Chapter 11 proceedings.

公司警告称，在第11章诉讼程序悬而未决期间，公司证券的交易具有高度投机性，并构成重大风险。本公司证券的交易价格可能与本公司证券持有人在第11章诉讼中的实际追讨（如果有的话）几乎没有关系。

Holders of shares of the Company's Class A common stock could experience a complete loss on their investment, depending on the outcome of the Chapter 11 proceedings..

根据第11章诉讼的结果，公司A类普通股股东的投资可能会遭受完全损失。。

Media Contacts

媒体联系人

David Zarco[email protected]

David Zarco[受电子邮件保护]

Kekst CNCRuth Pachman / Nicholas Capuano[email protected] / [email protected]

Kekst CNCRuth Pachman/Nicholas Capuano[受电子邮件保护]/[受电子邮件保护]

Investor Contact

投资者联系人

Cano Health IR[email protected]

Cano Health IR[受电子邮件保护]

SOURCE Cano Health, Inc.

SOURCE Cano Health公司。