Third Point Sells Cano Stake as Medical Provider’s Cash Dwindles

Daniel Loeb’s Third Point sold its remaining stake in Cano Health Inc.amid mounting concerns around the healthcare provider’s liquidity, according to people with knowledge of the situation.

Third Point sold out of Cano through a block trade last week, said the people, who asked not to be identified because the matter is private. The New York-based hedge fund had disclosed a 3.5% position in October, down from 6.4% in March, public filings show.

Meanwhile, some of Cano Health’s biggest creditors are in the early stages of organizing ahead of potential debt discussions, the people said.

Representatives for Third ...