Humana Forms Joint Venture With BlackRock for 150 Senior Care Clinics

06:55 AM EDT, 10/13/2026 (MT Newswires) -- Humana (HUM) said Tuesday that it has agreed to form a joint venture with funds managed by BlackRock's (BLK) HPS Investment Partners to operate nearly 150 CenterWell Senior Primary Care clinics. The new venture will replace Humana unit CenterWell's existing joint ventures with Welsh, Carson, Anderson & Stowe, as BlackRock will acquire Welsh Carson's stake for $2.8 billion, Humana said. BlackRock will hold a majority stake in the new venture, while CenterWell will retain a minority stake and continue managing clinic operations, Humana said. The company said the partners plan to invest additional capital over the next two years to support existing clinics, open new locations and expand through acquisitions. Starting in 2028, CenterWell will have the option to buy clinics from the joint venture, Humana said, adding that if it has not acquired all the clinics by the end of 2033, BlackRock can pursue a sale, subject to CenterWell's right to make the first offer. The deal is expected to close in Q4 and is not expected to materially affect Humana's 2026 adjusted earnings outlook, the company said. Humana said the transaction will reduce balance-sheet liabilities by removing put arrangements tied to the existing joint ventures and lower its cost of capital.