Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cano Health buys Doctor’s Medical Center for $300M, Ouster lays off 10% of staff, and Coeptis enters license agreement with University of Pittsburgh
Cano Health buys Doctor’s Medical Center for $300M to cement its primary care business in Florida
Miami-based Cano Health announced today the acquisition of fellow primary care provider Doctor’s Medical Center in a bid to grow its Medicare, Medicaid and Affordable Care Act (ACA) exchange memberships in South Florida.
The deal closed July 2 and ran Cano Health $300 million, $250 million of which the company said was financed by new debt.
Cano Health—which just recently joined the public markets through a $4.4 billion special purpose acquisition company merger—runs value-based primary care centers and provides support to other primary care practices treating senior patients.
Ouster lays off 10% of staff
Ouster (NYSE:OUST) announced that it is reducing its headcount by approximately 10%, reducing spending across the business by over 15% and suspending sales of common stock through at-the-market. The changes are part of the company’s comprehensive cost reduction initiative.
As of December 2021, Ouster employed approximately 217 people on a full-time basis in the U.S. and 61 people full-time internationally, for a total of 278 employees. Ousters cuts could affect around 28 employees in the company.
Ouster went public on the NYSE in March 2021 after it completed its business combination with Colonnade Acquisition Corp., a SPAC.
Coeptis Therapeutics Enters Exclusive License Agreement with University of Pittsburgh for Rights to SNAP-CAR, a “Multi-Antigen” CAR T Technology
Coeptis Therapeutics, Inc. (OTC PINK: COEP) (“Coeptis” or “the Company”), a biopharmaceutical company developing innovative cell therapy platforms for cancer, today announced entry into an exclusive license agreement with the University of Pittsburgh for the rights to a chimeric antigen receptor T cell (CAR T) technology – SNAP-CAR – designed to target multiple antigens simultaneously and potentially address a range of hematologic and solid tumors, including breast and ovarian cancer. Completion of the exclusive license agreement for SNAP-CAR follows Coeptis’ entry into an option agreement with the University of Pittsburgh announced in May 2022.
Bull Horn (NASDAQ:BHSE) entered into a definitive agreement to combine with biopharmaceutical company Coeptis in April.