BlackRock to buy $2.8bn stake in CenterWell clinic venture

Humana has agreed to replace its CenterWell clinic ventures with a new BlackRock partnership, according to an SEC exhibit filed Tuesday. Funds and accounts managed by BlackRock's HPS Investment Partners will acquire Welsh, Carson, Anderson & Stowe's stake, valued at about $2.8bn.

The network comprises nearly 150 clinics. BlackRock will hold a majority interest, with CenterWell retaining a minority stake and continuing to run the clinics.

CenterWell can begin buying clinics from the venture in 2028. If any remain at the end of 2033, BlackRock can pursue a sale, subject to CenterWell's right to make the first offer. Humana expects closing in the fourth quarter, subject to state and federal approval and other conditions.