Cano Health
Cano Health is a Miami-based value-based primary care provider operating 71 medical centers across Florida, serving primarily Medicare Advantage members through integrated primary care, pharmacy, diagnostics, wellness, and transportation services.
- Company typePublic
- Founded2002
- HeadquartersMiami, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Cano Health does
Cano Health is a Miami-headquartered value-based primary care provider that operates a network of 71 owned medical centers across Florida, concentrated in Miami-Dade, Broward, Palm Beach, and Tampa. Founded in 2002 and previously publicly traded on the NYSE under ticker 'CANO' after a June 2021 SPAC merger with Jaws Acquisition Corp., the company built its model around serving Medicare Advantage members through an integrated "Primary Care Plus" platform. Core services include primary care, specialty services, in-house laboratory and diagnostics, pharmacy, care management, therapy services, transportation (free for eligible MA members), social services, home-based care via Cano at Home, and a wellness sub-brand. Pediatric care is delivered through Cano Pediatrics.
The underlying technology stack is built on the ECW Cloud electronic health records system and a proprietary Patient Portal that enables appointment management, records access, and care team communication. A Location Finder directory supports patient acquisition across Florida. The company accepts Medicare, Medicaid, and ACA marketplace plans alongside multiple Medicare Advantage carriers including Humana, UnitedHealthcare, WellCare, AvMed, Devoted Health, Optimum, Freedom Health, and CarePlus. Multilingual delivery (English, Spanish, Creole) targets the Hispanic senior population in South Florida.
Cano Health's business model is a value-based care approach with revenue generated primarily through capitation and fee-for-service reimbursement from Medicare Advantage plans and other payers. The company scaled rapidly via a $1.49 billion SPAC raise and a $600 million acquisition of University Health Care in 2021, expanding to 88 centers across multiple states and Puerto Rico. The trajectory reversed sharply: by 2024 the company entered bankruptcy proceedings, vacated medical real estate, contracted back to Florida-only operations, and faced $72 million in fraud litigation against former CEO Marlow Hernandez. Historical revenue peaked around $2.74B (2022) and approximately $3.14B (2023) per disclosed financials, but EBITDA was deeply negative across the public period.
Cano Health firmographics
Firmographics- Name
- Cano Health
- Legal name
- Cano Health, LLC
- Website
- https://canohealth.com
- Company type
- Public
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Cano Health is a Miami-based value-based primary care provider operating 71 medical centers across Florida, serving primarily Medicare Advantage members through integrated primary care, pharmacy, diagnostics, wellness, and transportation services.
- Ownership category
- akta.pro rank
Cano Health industry classification
Industry- Product category
- Value-Based Primary Care Services
- NAICS
- Other Ambulatory Health Care Services (6219)
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Skilled Nursing Facilities (SNF) (HLAFAFAB)
Keywords
Where Cano Health is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices70 records
Markets served
Cano Health business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Healthcare Services Revenue: Revenue generated from providing primary care, specialty services, pharmacy, laboratory, diagnostics, therapy services, and wellness programs to Medicare Advantage members and other patients. The company operates on a value-based care model likely involving capitation payments from Medicare Advantage plans and fee-for-service reimbursement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Insurance-based healthcare services |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Cano Health product offering
Product offeringCore offering
Cano Health operates a network of 71 medical centers across Florida delivering "Primary Care Plus" services including primary care, specialty services, pharmacy, laboratory and diagnostics, therapy, wellness programs, home-based care, social services, and transportation. Services are primarily delivered to Medicare Advantage members on a value-based care model via insurance partnerships with Humana, UnitedHealthcare, and other major plans.
Product overview
Cano Health operates as a multi-service healthcare provider offering a unified platform of primary care and wellness services. The core product is Primary Care, supplemented by integrated modules including Laboratory & Diagnostics, Care Management, Pharmacy, Social Services, Cano at Home (home-based care), Health & Wellness programming, Therapy Services & Specialties, Transportation Service, Specialty Services, and Cano Pediatrics. The company also provides a Patient Portal for digital access to medical records and care coordination. Services are delivered through a network of medical centers across Florida, with a focus on Medicare Advantage members.
Differentiator
Problem solved
Functional benefit
Brands
- Cano Pediatrics: Pediatric care services for children from newborn through adolescent, including well-child visits, sick visits, after-hours care, walk-ins, and vaccinations
- Cano Wellness
Products and services
- Primary Care
Companies that use Cano Health
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
Cano Health technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Cano Health partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and major.
- University Health CarecoreCano Health acquired University Health Care for $600 million, expanding its presence in Florida and adding approximately 24,000 Medicare Advantage members. The acquisition was expected to increase full-year 2021 adjusted EBITDA to over $100 million.
- Devoted Health PlanscoreMedicare Advantage insurance provider whose members receive care at Cano Health centers. Insurance acceptance varies by center.
- HumanacoreMedicare Advantage and health insurance provider accepted at Cano Health centers. Insurance acceptance varies by center.
- UnitedHealthcarecoreLarge health insurance provider accepted at Cano Health centers. Insurance acceptance varies by center.
- WellCare Health PlansmajorMedicare Advantage insurance provider accepted at Cano Health centers.
- AvMedmajorMedicare Advantage plan accepted at Cano Health centers.
- Optimum Healthcare IncmajorMedicare Advantage insurance provider accepted at Cano Health centers.
- Freedom HealthmajorMedicare Advantage plan accepted at Cano Health centers.
- CarePlus Health PlansmajorMedicare Advantage insurance provider accepted at Cano Health centers.
Scale indicators7 records
Recent moves7 records
Expansion highlights4 records
Cano Health competitors and assessment
Company assessmentDirect peers
- Oak Street Health: Operates value-based primary care clinics specifically designed for Medicare beneficiaries, with a comparable capitated revenue model, multi-service 'one-stop' clinic format, and senior-focused patient experience. Acquired by CVS Health in 2023 for ~$10.6B, validating the strategic value of the MA primary care model Cano Health operates.
- agilon health: Partnership-based value-based care platform that contracts with independent primary care physicians to take global risk on Medicare Advantage patients — directly comparable to Cano's capitated MA primary care economics and member management approach.
- ChenMed: Family-owned operator of senior-focused primary care centers serving Medicare Advantage patients under full-risk capitation contracts. Closely comparable to Cano in clinic format, target demographic, and value-based reimbursement model.
- Privia Health: Medical group enablement platform that partners with primary care providers across multiple states to manage value-based contracts including MA — directly comparable in PCP-centric care model and payer-agnostic approach, though Privia operates across more geographies.
- P3 Health Partners: Value-based care company focused on Medicare Advantage populations, operating primary care clinics and risk-bearing physician networks in the Western U.S. Similar senior-focused, capitated primary care model to Cano Health.
- Iora Health (One Medical): Founded as a senior-focused, value-based MA primary care provider (directly parallel to Cano), later acquired by One Medical and now part of Amazon. Operates clinics with a comparable human-centered primary care model.
Broad incumbents
- VillageMD: Value-based primary care platform majority-owned by Walgreens Boots Alliance, operating multi-specialty primary care clinics including MA-focused locations. A larger, well-capitalized incumbent in the same value-based primary care space as Cano Health.
- CenterWell (Humana): Humana's senior-focused primary care subsidiary operating dedicated MA clinics with comparable patient demographic, capitated contracts, and integrated wellness programming. Operates as a vertically integrated arm of one of Cano's largest payer partners.
- Optum (UnitedHealth Group): Largest operator of value-based primary care clinics in the U.S. through Optum Care, serving Medicare Advantage and other populations at massive scale. UnitedHealthcare is also one of Cano Health's accepted MA payers.
Emerging players
- Aledade: Value-based care network that partners with independent primary care practices to manage MA and ACO contracts. Operates a comparable capitated, PCP-anchored model but through a partnership structure rather than owned clinics.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Cano Health social profiles
Digital presenceCano Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cano Health leadership team
Management profileNumber of profiles
Profiles2 records
Cano Health subsidiaries and ownership
Company hierarchySubsidiaries1 record
Cano Health funding detail
Funding detailFunding overview
Funding rounds2 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cano Health M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cano Health
What does Cano Health do?
Cano Health operates a network of 71 medical centers across Florida delivering "Primary Care Plus" services including primary care, specialty services, pharmacy, laboratory and diagnostics, therapy, wellness programs, home-based care, social services, and transportation. Services are primarily delivered to Medicare Advantage members on a value-based care model via insurance partnerships with Humana, UnitedHealthcare, and other major plans.
Is Cano Health a public or private company?
Cano Health is a public company. It is classified as public and is currently operating.
When was Cano Health founded?
Cano Health was founded in 2002. It employs 1,001 to 5,000 people.
Where is Cano Health based?
Cano Health is headquartered in Miami, United States, in the North America region.
How does Cano Health make money?
One revenue line is on record: healthcare Services Revenue.
Who are Cano Health's main competitors?
Direct peers on record are Oak Street Health, agilon health, ChenMed, Privia Health, P3 Health Partners and Iora Health (One Medical). Broad incumbents are VillageMD, CenterWell (Humana) and Optum (UnitedHealth Group). Aledade is listed as an emerging player.
Does Cano Health have an API?
No public API is recorded for Cano Health.
What industry is Cano Health in?
Cano Health's product category is Value-Based Primary Care Services. Its primary akta.pro industry code is HLAFAFAB, Skilled Nursing Facilities (SNF). Its NAICS code is 6219 and its SIC code is 6324.