Cano Health to Become Public via Business Combination with Jaws Acquisition Corp.

November 12, 2020

Cano Health, a value-based primary care platform for seniors, agreed to merge with Jaws Acquisition Corp. in a transaction that values the combined company at an approximate enterprise value of $4.4 billion. The SPAC transaction (including an $800 million PIPE) is expected to provide up to $1.49 billion of gross proceeds to accelerate Cano Health's growth and geographic expansion of its Medicare Advantage-focused care model.

Buyers
Jaws Acquisition Corp., Barry Sternlicht (PIPE investor), Fidelity Management & Research Company (PIPE investor), BlackRock (PIPE investor), Third Point (PIPE investor), Maverick Capital (PIPE investor)
Targets
Cano Health, LLC
Location
Florida, United States
Transaction Type
Buyout

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