BlackRock to acquire a majority stake in Humana‘s network of primary care centers, in a transaction valued at $2.8 billion announced Tuesday. The deal moves ownership of the 150-site CenterWell Senior Primary Care system from a private equity sponsor to the asset manager, positioning the clinics for further investment and operational support under the new majority owner, BlackRock.
The chain comprises about 150 clinics focused on Medicare Advantage beneficiaries, delivering value-based primary care services for older patients. The stake being sold was held by private equity firm Welsh, Carson, Anderson & Stowe, which first invested in the venture more than six years ago and has committed at least $1.8 billion to CenterWell since 2020. The transaction replaces that private equity backing with BlackRock’s majority ownership.
Humana has said the proceeds will be used to fund existing clinic operations, open additional sites and pursue targeted acquisitions over the next two years. The insurer framed the move as a capital strategy to support growth of its CenterWell network and to strengthen primary care services for Medicare populations. The shift in sponsor also highlights changing financing arrangements in health care investment, particularly for enterprises focused on seniors and value-based care models such as Medicare Advantage and partnerships with external investors including private equity.
The transaction underscores the sizable sums now being directed at senior primary care: at $2.8 billion, the purchase represents a major capital commitment to a provider network serving older Americans. Humana says the new capital will support the operational footprint of CenterWell and underpin its plans to expand access to its Medicare-focused primary care services in the near term.
