HUM · 8-K · 20261013PR000060

Acquisitions and Partnerships

HUMANA INC · 2026-10-13 · Importance 58 · Surprise 42 · In source text

Humana agreed to form a new joint venture with funds and accounts managed by HPS Investment Partners, part of BlackRock, to manage nearly 150 CenterWell Senior Primary Care clinics. BlackRock will acquire WCAS’s current equity stake, valued at approximately $2.8 billion, and hold a majority interest while CenterWell retains a minority interest. Over the next two years, the venture is expected to deploy additional capital for existing clinical operations, new clinics, and strategic acquisitions. The transaction is expected to close in the fourth quarter of 2026, and CenterWell will continue managing and operating the clinics.

Key facts

• The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and state and federal regulatory approval. source
• On October 13, 2026, Humana announced a new joint venture agreement with funds and accounts managed by HPS Investment Partners, a part of BlackRock, to manage and operate an existing network of nearly 150 CenterWell Senior Primary Care clinics. source
• If CenterWell has not acquired all of the joint venture’s clinics by the end of 2033, BlackRock may exit through a sale process for the remaining clinics, subject to CenterWell’s right to submit the first offer to acquire them. source
• The new joint venture will be majority owned by BlackRock and minority owned by CenterWell. source
• The new joint venture replaces CenterWell’s existing joint ventures with WCAS through BlackRock’s acquisition of WCAS’s current equity stake. source
• The transaction is not expected to have a material impact on Humana’s 2026 adjusted earnings guidance. source
• Humana’s existing CenterWell and WCAS joint ventures helped scale CenterWell into the nation’s largest provider of senior-focused value-based primary care over the last seven years. source

Impact estimates