Name: Mark Kent
Previous title: Interim CEO, Cano Health
New title: CEO, Cano Health
Kent is officially taking on the chief executive role and joining the board of directors at the financially struggling value-based primary care provider about two months after his predecessor stepped down.
Kent was also elected to the company’s board of directors. Cano announced Marlow Hernandez, the company's founder and former CEO, had stepped down from his role on Cano’s board, effective immediately.
Hernandez left the CEO job in June following a campaign from former board members who accused the Florida-based chain of poor corporate governance, leaving the company with what the board members described as a “crippling debt burden.”
Kent, who was appointed Cano’s chief strategy officer in the spring, served as interim CEO while the company searched for a successor.
Earlier this month, the primary care chain announced it was looking for a buyer after it posted a more than $270 million net loss in the second quarter and noted it may not have enough cash to fund the business over the next year.
The company will cease operations in California, New Mexico, Illinois and Puerto Rico to focus on its Medicare Advantage and ACO REACH businesses, particularly in its home market in Florida. About 17% of its workforce will be laid off.
Before joining Cano, Kent founded three startups that aimed to help providers operate under value-based arrangements. He also served as CEO of Evansville, an Indiana-based Women's Health Care Hospital and as CEO and regional president of Humana-owned, Florida-based primary care practices, now known as Conviva Care Centers.
