Humana and others are interested in acquiring primary care provider Cano Health, The Wall Street Journal reported Sept. 22.
People familiar with the situation told the Journal that discussions between Humana and Cano are serious, and assuming talks don't break down, a deal could be agreed upon as soon as next week.
After the Journal article, Cano Health shares went up 42 percent, giving the company a market value of nearly $5 billion.
Cano Health operates primary care centers in California, Florida, Nevada, New Mexico, Texas, Illinois, New York, New Jersey and Puerto Rico.
The company mainly serves Medicare Advantage members.