# Humana Partners With BlackRock in $2.8 Billion Senior Care Joint Venture

- URL: https://stocks.freetheai.org/news/humana-partners-with-blackrock-in-2-8-billion-senior-care-joint-venture-98879b
- Published: 2026-10-13T10:22:00Z
- Category: mergers; sentiment: bullish; impact: medium
- Symbols: [NYSE:HUM](https://stocks.freetheai.org/symbols/NYSE-HUM), [NYSE:BLK](https://stocks.freetheai.org/symbols/NYSE-BLK)
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Humana Inc. (HUM) has entered into a new joint venture agreement with funds managed by HPS Investment Partners, part of BlackRock, Inc. (BLK), to manage and operate nearly 150 CenterWell Senior Primary Care clinics. Under the agreement, BlackRock will acquire the equity stake previously held by investment firm WCAS, valued at approximately $2.8 billion. BlackRock will hold majority ownership in the new entity, while CenterWell retains a minority stake and will continue managing day-to-day clinic operations.

The deal unlocks fresh growth capital for Humana while restructuring its financial commitments. Because the new arrangement removes put options present in legacy agreements, Humana anticipates a notable reduction in balance sheet liabilities alongside a lower overall cost of capital. Over the next two years, the joint venture plans to deploy additional capital to support existing clinical operations, establish new facilities, and pursue strategic acquisitions.

The transaction is scheduled to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. Humana stated that the deal is not expected to impact its 2026 adjusted earnings guidance. Beginning in 2028, CenterWell will hold options to buy back clinics from the venture, while BlackRock receives exit rights through a sale process starting at the end of 2033 if any clinics remain unpurchased.

## Key points

- BlackRock will acquire WCAS's equity stake in nearly 150 CenterWell senior primary care clinics, valued at about $2.8 billion.
- BlackRock will hold majority ownership in the joint venture, while CenterWell retains a minority stake and manages operations.
- Eliminating legacy put options is expected to lower balance sheet liabilities for Humana and reduce its cost of capital.
- The transaction is expected to close in the fourth quarter of 2026 without altering Humana's 2026 adjusted earnings outlook.

## Questions and answers

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

Humana and BlackRock formed a joint venture to manage nearly 150 CenterWell Senior Primary Care clinics. BlackRock acquires WCAS's equity stake valued at around $2.8 billion to take majority ownership, while CenterWell retains a minority stake and continues running clinic operations.

### How does the BlackRock deal affect Humana's financial position?

The transaction eliminates put options from previous joint ventures, significantly reducing liabilities on Humana's balance sheet and lowering its cost of capital. It also provides growth capital to expand the clinic network without impacting Humana's 2026 adjusted earnings guidance.

### When will the CenterWell primary care deal close?

The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and federal and state regulatory approvals.