Humana, CVS Health in the process of acquiring Cano Health – reports

Humana, CVS Health in the process of acquiring Cano Health – reports

Written by Sam Bogda

According to a report from The Wall Street Journal, Thursday, Humana you (NYSE:: and others are interested in acquiring primary care provider Cano Health Inc (NYSE: NYSE), which is said to be exploring a sale.

Citing people familiar with the topic, the Wall Street Journal reported that heavyweight healthcare companies are looking to “hunt” primary care providers. The discussions between Humana and Kano are said to be serious, and assuming the talks do not break down, a deal could be agreed upon as soon as next week.

Cano Health shares surged after the reports, closing Thursday’s session more than 33% higher. The company operates primary care centers throughout the United States.

The report from the Wall Street Journal states that they couldn’t tell who else were vying for the company, but they “could lose Humana” because they had the first right to reject any sale as part of an agreement made in 2019.

However, in a separate article from Bloomberg, it was revealed that CVS Health (NYSE:) is among several potential buyers running for Cano, although it cautioned that no final decision had been made and the company could still choose to remain independent.

Shares of Humana Inc closed more than 0.6% higher Thursday, while CVS shares were mostly flat, up just 0.04%.

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