# Humana Forms New Joint Venture with BlackRock to Manage CenterWell Clinics

- URL: https://stocks.freetheai.org/news/humana-forms-new-joint-venture-with-blackrock-to-manage-centerwell-clinics-56b1b2
- Published: 2026-10-13T10:22:00Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [NYSE:HUM](https://stocks.freetheai.org/symbols/NYSE-HUM)
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Humana Inc. (HUM) has formed a new joint venture with BlackRock to manage around 150 CenterWell clinics. Under the agreement, BlackRock is acquiring the equity stake previously held by private equity firm WCAS in a transaction valued at approximately $2.8 billion. Shares of Humana were up 0.38% at $433.50 following the announcement.

The updated agreement eliminates existing put option arrangements tied to the clinics. Humana expects this change to substantially reduce its reported liabilities and lower its overall cost of capital. The deal also provides funding to support operations, new clinic construction, and potential acquisitions over the next two years to expand the CenterWell network.

Investors will be tracking the final closing of the transaction, the precise amount of liability reduction reported in future financial statements, and the speed at which capital is deployed. Additionally, the agreement includes an option for Humana to purchase clinics starting in 2028.

## Key points

- Humana established a joint venture with BlackRock to manage approximately 150 CenterWell clinics.
- BlackRock is acquiring WCAS's equity stake in the clinic portfolio, valued at roughly $2.8 billion.
- Removing put options is expected to lower Humana's liabilities and reduce its cost of capital.
- The arrangement frees up capital for operations, new clinic builds, and acquisitions over two years.
- Humana holds an option to buy back clinics beginning in 2028.

## Questions and answers

### What is the new joint venture between Humana and BlackRock?

Humana partnered with BlackRock to manage roughly 150 CenterWell clinics, with BlackRock acquiring WCAS's equity stake valued at around $2.8 billion.

### How does the BlackRock deal impact Humana's finances?

The structure eliminates put options, which Humana expects will significantly reduce liabilities, lower its cost of capital, and provide funding for clinic expansion over two years.

### When can Humana re-acquire the CenterWell clinics?

Humana retains a buy option for the clinics starting in 2028.