Eladio Gil named
Interim Chief Financial Officer
MIAMI, Sept. 29,
2023 /PRNewswire/ -- Cano Health, Inc. ("Cano
Health") (NYSE: CANO) today announced that Eladio Gil has been appointed Interim Chief
Financial Officer, effective September 29,
2023. Mr. Gil, who previously served as Cano Health's Vice
President of Medicare Advantage Finance, succeeds Brian Koppy, who has stepped down to accept an
opportunity outside the organization.
Mr. Gil is a seasoned finance executive with more than 30 years
of comprehensive healthcare experience. Before joining Cano Health,
Mr. Gil served as the Chief Financial Officer of Total Health,
where he managed the company's finance and accounting functions, as
well as Management Services Organizations
Operations. Additionally, he has held key finance and business
leadership roles with other major healthcare companies, including
as Chief Financial Officer of CarePlus Health and as Vice President
of Care Delivery with Humana. Mr. Gil has also been instrumental in
building and optimizing finance and operations departments during
his tenure with Blue Cross Blue Shield and United Health Plans.
"We are thrilled to welcome Eladio as Interim CFO," said
Mark Kent, Chief Executive Officer
of Cano Health. "In my more than 12 years knowing Eladio, I have
witnessed the combination of his extensive industry experience and
finance expertise, including developing and executing strategies to
reduce complexity and ensure balance sheet stabilization. I look
forward to greater collaboration with him as we work to unlock
embedded profitability, reduce complexity, and create value for
shareholders."
Mr. Kent added, "We are deeply grateful to Brian for his
exemplary leadership during his tenure as CFO. His expertise,
professionalism, and poise helped navigate our company through
several pivotal periods of change, including organizational
restructuring and strategic asset divestitures. While we are sad to
see him go, we appreciate his support and dedication to the company
and wish him the very best."
As Interim CFO, Mr. Gil will report directly to CEO Mark Kent. Mr. Gil is a graduate of Florida International University's School of
Finance and received his CPA certification from the State of Florida in 2002.
About Cano Health
Cano Health (NYSE: CANO) is a high-touch,
technology-powered healthcare company delivering personalized,
value-based primary care to approximately 365,000 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. For more information, visit
canohealth.com or investors.canohealth.com.
Forward-Looking Statements: 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 Cano Health's control and could materially
affect actual results, performance or achievements. These
forward-looking statements generally can be identified by phrases
such as "will," "expects," "anticipates," "believes," "foresees,"
"forecasts," "plans," "intends," "estimates" or other words or
phrases of similar import, including, without limitation, Cano
Health's plans to unlock embedded profitability, reduce complexity,
and create value for shareholders. It is uncertain whether any of
the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do, what impact they will
have on Cano Health's results of operations and financial
condition. Important risks and uncertainties that could cause Cano
Health's actual results and financial condition to differ
materially from those indicated in forward-looking statements
include, among others, changes in market or industry conditions,
the regulatory environment, competitive conditions, and/or consumer
receptivity to Cano Health's services; changes in Cano Health's
strategy, future operations, prospects and plans; developments and
uncertainties related to the Direct Contracting Entity program;
Cano Health's ability to realize expected financial results; Cano
Health's ability to predict and control its medical cost ratio;
Cano Health's ability to integrate its acquisitions and achieve the
desired synergies; Cano Health's ability to maintain its
relationships with health plans and other key payors; Cano Health's
future capital requirements and Cano Health's sources and uses of
cash, including funds to satisfy its liquidity needs; Cano Health's
ability to attract and retain members of management and its Board
of Directors; and/or Cano Health's ability to recruit and retain
qualified team members and independent physicians. Actual results
may also differ materially from such forward-looking statements for
a number of other reasons, including those set forth in Cano
Health's filings with the SEC, including, without limitation, in
Cano Health's Annual Report on Form 10-K for the fiscal year ended
December 31, 2022, filed with the SEC
on March 15, 2023 (the "2022 Form
10-K"), as well as Cano Health's Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K that Cano Health has filed or will file
with the SEC during 2023 (which may be viewed on the SEC's website
at http://www.sec.gov or on Cano Health's website at
http://www.investors.canohealth.com/ir-home), as well as reasons
including, without limitation, (i) Cano Health's experiencing
delays or difficulties in, and/or unexpected or less than
anticipated results from executing its plans to unlock embedded
profitability, reduce complexity, and/or create value for
shareholders, such as due to less than anticipated liquidity,
unanticipated demands on Cano Health's available sources of cash,
higher than anticipated costs, tightness in the credit or M&A
markets, higher interest rates, less than anticipated cost
reductions from Cano Health's restructuring activities and/or a
sustained higher inflationary environment. For a detailed
discussion of other risks and uncertainties that could cause Cano
Health's actual results to differ materially from those expressed
or implied by Cano Health's forward-looking statements, please
refer to Cano Health's filings with the SEC, including, without
limitation, Cano Health's 2022 Form 10-K. Factors other than those
listed above could also cause Cano Health's results to differ
materially from expected results. Forward-looking statements speak
only as of the date they are made and, except as required by law,
Cano Health undertakes no obligation or duty to publicly update or
revise any forward-looking statement, whether to reflect actual
results of operations; changes in financial condition; changes in
general U.S. or international economic, industry conditions;
changes in estimates, expectations or assumptions; or other
circumstances, conditions, developments or events arising after the
issuance of this press release. Additionally, the business and
financial materials and any other statement or disclosure on or
made available through Cano Health's websites or other websites
referenced herein shall not be incorporated by reference into this
release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cano-health-announces-change-in-chief-financial-officer-role-301943429.html
SOURCE Cano Health, Inc.
