BlackRock agrees to replace WCAS in CenterWell clinic venture
Editorial draft · Reviewed October 15, 2026. Original source scope and limitations retained.
Company announcement · transaction pending
Humana has agreed to bring BlackRock-managed capital into a joint venture covering nearly 150 CenterWell Senior Primary Care clinics. The transaction replaces an existing financial partner; it is not a sale of all of CenterWell.
In its October 13 announcement, Humana said funds and accounts managed by HPS Investment Partners, part of BlackRock, would acquire WCAS’s existing equity ownership, valued at approximately $2.8 billion. The new venture would be majority-owned by BlackRock and minority-owned by CenterWell. CenterWell would continue operating the clinics.
Closing was expected in the fourth quarter of 2026, subject to regulatory approval and other conditions. Additional capital was expected to support operations, new clinics and acquisitions over the following two years.
Beginning in 2028, CenterWell would have an option to buy clinics from the venture. The announced structure also removes existing put arrangements, which Humana expects to reduce balance-sheet liabilities and its cost of capital.
The strategic story is financing architecture as much as clinic expansion. For readers following longevity businesses, this is evidence of capital committed to senior-focused care—not evidence that the transaction itself will improve patient outcomes.