Carriers & the market
Humana Restructures CenterWell Senior Clinics in a 2.8 Billion Dollar Deal With BlackRock
The ownership of Humana's network of nearly 150 primary care clinics for Medicare-age patients will shift from Welsh Carson to BlackRock in a deal valued at approximately 2.8 billion dollars, with no changes expected for patients.
By the Goodsurance editorial teamOctober 18, 2026
Humana, one of the nation's largest Medicare Advantage insurers, has agreed to a joint venture with HPS Investment Partners, a unit of investment firm BlackRock, to own and operate the CenterWell Senior Primary Care clinic network. Humana disclosed the agreement in a filing with the Securities and Exchange Commission dated October 13, 2026.
Under the deal, BlackRock will purchase the ownership stake currently held by Welsh Carson Anderson and Stowe, a private equity firm that co-owned the CenterWell clinics since the network was built out roughly seven years ago. BlackRock will hold a majority interest in the new joint venture. CenterWell, a subsidiary of Humana, will retain a minority stake and continue to manage the clinics day to day. The company stated that patient care will not change.
Humana is handing majority ownership of its nearly 150 senior primary care clinics to BlackRock in a 2.8 billion dollar deal. The company says patient care will not change.
The CenterWell network consists of nearly 150 primary care clinics designed specifically for Medicare-age patients. The clinics operate under a value-based care model, focusing on coordinating and preventing health problems rather than billing for each individual service.
For people on Medicare, the practical effect of this change is limited in the near term. Patients treated at CenterWell locations should expect the same providers, locations, and clinical approach after the transition closes. Humana retains the option to begin repurchasing the clinics from the joint venture starting in 2028. If the buyback is not complete by the end of 2033, BlackRock may seek to sell the remaining clinics, with Humana holding first-offer rights.
The deal is expected to close in the fourth quarter of 2026, pending regulatory review. Humana said the restructuring will reduce a significant financial liability from its balance sheet.
In plain words
Humana runs a chain of about 150 doctor's offices built for people on Medicare. These are called CenterWell clinics. A large investment company called BlackRock has agreed to become the main owner of these clinics. A firm called Welsh Carson owned the larger share before. Humana will still run the clinics and stay as a smaller owner. The company says nothing will change for patients. Humana can start buying the clinics back starting in 2028.
Understand the basics first
Source: Healthcare Dive
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