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  "authorName": "Cano Health",
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  "presentationDate": "2021-08-01 00:00:00",
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  "notes": "Includes footnotes explaining non-GAAP measures and definitions.",
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      "text": "Membership includes the Q2 2021 acquisition of University, and 8,054 DCE members assigned to Cano Health in Q2. Medical claims expense ratio for the second quarter 2021 was 77.0%, compared to 73.0% for the first quarter for 2021 driven primarily by the inclusion of DCE members, who we initially expect to have higher medical costs, and to a lesser extent by higher elective procedure utilization and costs related to COVID-19. SG&A Ratio continues to improve as a result of scale benefits. Adjusted EBITDA and corresponding margins are in-line with seasonal expectations, and thus we providing guidance of ~$115M for full year 2021",
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      "text": "(1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures... (2) Medical Claims Expense Ratio = Third-party Medical Costs / Capitated Revenue (3) Adjusted EBITDA margin is defined as Adjusted EBITDA expressed as a percentage of total revenue",
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      "text": "Table comparing Q2 2021 and Q2 2020 metrics including membership, revenue, EBITDA, and ratios.",
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      "text": "Q2 2021 Results",
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