Humana to Sell CenterWell Clinics in $2.8 Billion Joint Venture
The insurer said the BlackRock partnership would unlock growth capital while the clinic network stays dedicated to senior-focused, value-based care.
Humana Inc. (HUM) agreed to sell CenterWell Senior Primary Care clinics in an approximately $2.8 billion asset purchase that will create a joint venture with BlackRock, a move the company said would free capital while leaving the clinic network in place to serve patients.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and state and federal regulatory approval. The insurer framed the joint venture as a way to support future growth opportunities for CenterWell while unlocking additional growth capital and providing greater financial flexibility for Humana.
Dr. Sanjay Shetty, President of CenterWell, said: “We look forward to this new venture with BlackRock as our partner, while our growing network of CenterWell clinics remains dedicated to serving patients with our unique model of senior-focused, value-based care.”
Primary care is one of three CenterWell lines alongside pharmacy solutions and home solutions. In the three months ended June 30, 2026, CenterWell primary care revenue was $2.008 billion, compared with $1.479 billion a year earlier; for the six months ended June 30, 2026, the line generated $3.930 billion versus $2.898 billion. CenterWell as a whole posted $6.790 billion of revenue in that second quarter, up from $5.537 billion.
The clinic footprint had been expanding. As of June 30, 2026, CenterWell primary care operated 398 centers with 1,478 providers serving 622,000 patients, versus 335 centers, 1,134 providers, and 430,300 patients a year earlier. Management said the network was serving approximately 622,000 patients as of June 30, 2026, an increase of 130,900 patients, or 27%, from December 31, 2025. The Villages Health acquisition, which closed in November 2025, added 8 primary care centers and about 32,000 patients.
Humana has previously described primary care as a multi-payer platform intended to contribute to enterprise earnings over time, with scaling through new centers, patient growth, and Independent Physician Associations. In 2025 it said it expected to add about 20 to 30 centers and targeted net patient growth of 30,000 to 50,000. The company also named Gentiva among comparable deals in the release.
The joint venture is expected to close in the fourth quarter of 2026, subject to customary closing conditions and state and federal regulatory approval.