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CVS Is in Exclusive Talks to Buy Cano Health

  • Pharmacy owner currently doing due diligence on Cano Health
  • Sternlicht-backed Cano operates primary care facilities
    

    

Photographer: Christopher Lee/Bloomberg
Updated on

CVS Health Corp. is in exclusive talks to buy Cano Health Inc., the health-care provider backed by billionaire Barry Sternlicht, according to people familiar with the matter. 

CVS is currently conducting due diligence on the Miami, Florida-based company, said the people, who asked to not be identified because the matter isn’t public. There is no certainty a deal will be reached, in part because Humana Inc. has a right of first refusal should Cano find a buyer under an agreement they made in 2019, said the people.