Miami-based Cano Health, a value-based care provider, has taken out a $150 million loan at the same time as reporting a preliminary loss of $302 million for the fourth quarter.
The loan, which matures November 2027, initially bears 14 percent interest for the first two years and then will bear 13 percent, Cano said.
The company, which also revealed a higher than estimated membership total of approximately 310,000, will report quarterly and full year results March 1. Its preliminary revenues are approximately $680 million for the final quarter.
Cano trades under the ticker CANO on the New York Stock Exchange.