Curie Brief
Turn on cookies to sign in
Signing in saves your progress to your Curie account. We can only do that with cookies on — turn them on to continue.
News
Humana is teaming up with investment giant BlackRock in a $2.8 billion joint venture to manage and grow its CenterWell senior primary care clinics. The deal replaces Humana's existing partnership with Welsh, Carson, Anderson & Stowe and covers roughly 150 clinic locations. Humana expects the new arrangement to lower its cost of capital and fuel further clinic expansion through 2028 and beyond.
Humana is swapping out one major financial partner for another in a big-dollar bet on senior primary care. The insurer announced a $2.8 billion joint venture with BlackRock's HPS Investment Partners unit to manage and operate its CenterWell clinics — a network of about 150 locations focused on value-based care for seniors. BlackRock will purchase the equity stake previously held by Welsh, Carson, Anderson & Stowe (WCAS), which had been Humana's partner in building out CenterWell over the past seven years.
The new partnership is designed to unlock fresh growth capital while giving Humana greater financial flexibility. Over the next two years, the joint venture will deploy capital to support existing clinics, open new locations, and pursue acquisitions. Starting in 2028, Humana will have the option to buy clinics back from the JV — and if all clinics haven't been repurchased by 2033, BlackRock can exit and sell remaining locations, with CenterWell getting the right of first offer.
By the Numbers:
Why it matters: This deal signals continued investor appetite for senior-focused, value-based primary care — and shows how large insurers like Humana are leveraging outside capital to scale clinic networks without straining their own balance sheets.
