Humana said on 13 October 2026 that funds managed by HPS Investment Partners, part of BlackRock, will acquire Welsh, Carson, Anderson & Stowe's equity in its CenterWell Senior Primary Care joint ventures, a stake valued at about US$2.8bn.
Why HPS Investment Partners (BlackRock) is buying CenterWell Senior Primary Care joint ventures (Welsh, Carson, Anderson & Stowe stake)
Humana said the removal of the put option will significantly reduce liabilities on its balance sheet while CenterWell continues to manage the clinics.
Deal terms and financing
The new joint venture will be majority-owned by BlackRock and minority-owned by CenterWell and will cover nearly 150 clinics. CenterWell may begin buying clinics from the venture in 2028; if it has not acquired all of them by the end of 2033, BlackRock may launch a sale process, with CenterWell holding a right of first offer.
Regulatory approvals and timing
Completion is expected in the fourth quarter of 2026, subject to customary closing conditions and state and federal regulatory approval.
Market context
It is Humana's second transaction with BlackRock this year, after the sale of its minority interest in hospice provider Gentiva to a consortium including BlackRock.
