Loading...Loading...On Monday, value-based primary care provider Cano Health Inc CANO entered into a Restructuring Support Agreement with lenders holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes. This agreement enables Cano Health to reduce its debt.

正在加载。。。正在加载。。。周一，基于价值的初级保健提供者卡诺健康公司卡诺与持有其约86%的有担保循环和定期贷款债务以及92%的高级无担保票据的贷款人签订了重组支持协议。该协议使卡诺健康公司能够减少其债务。

To facilitate this restructuring, Cano Health has initiated prearranged voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. It has also received a commitment for $150 million in new debtor-in-possession financing from certain of its existing secured lenders, subject to Court approval. This new capital is expected to provide sufficient liquidity to support the company’s ongoing operations throughout the restructuring process.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.”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 divesting operations in Texas and Nevada and exiting the California and Puerto Rico markets. 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.Cano Health expects to emerge from the restructuring process in the second quarter of 2024.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.

为了促进这一重组，卡诺健康已在特拉华州美国破产法院启动了预先安排的自愿第11章程序。它还收到了一些现有担保贷款人承诺的1.5亿美元新债务人占有融资，但须经法院批准。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。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，并加强了我们的财务状况。”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）已大幅推进并加速了其战略，以专注于其核心佛罗里达医疗保险优势和ACO覆盖的业务线，包括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。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。卡诺健康预计将于2024年第二季度完成重组。RSA规定将近10亿美元的担保债务转换为重组公司的新债务和全部股权。

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它还允许寻求战略合作伙伴关系和潜在报价，包括出售t。