Humana forms new joint venture with BlackRock for clinics

Humana AB (HUM) will be delisted from Nasdaq Stockholm, with the last trading day set for 27 October 2026. The decision was made by Nasdaq Stockholm, according to the company. The impact on valuation will depend on further details, such as reasons for delisting and post-delist trading options.

Humana has partnered with BlackRock's HPS Investment Partners to manage its CenterWell primary care clinics, replacing a previous deal with WCAS. BlackRock will acquire WCAS's stake, valued at $2.8 billion. The joint venture plans to expand the clinic network and fund operations, with CenterWell continuing management. Humana aims to grow its healthcare services business, with the new venture majority-owned by BlackRock and minority-owned by CenterWell.

Humana has partnered with BlackRock to manage 150 CenterWell clinics, with an option for CenterWell to repurchase them by 2033. The deal removes 'put arrangements' that Humana says will reduce balance-sheet liabilities and potentially lower borrowing costs. The transaction is expected to close in Q4 2023 and will not materially impact 2026 adjusted earnings. Humana aims to improve financial flexibility and manage risk more effectively.

Humana (HUM) formed a joint venture with BlackRock to manage CenterWell clinics, replacing a prior deal with WCAS. BlackRock will acquire WCAS's stake, and the new venture lacks a put option, reducing Humana's liabilities. Humana reaffirmed its 2026 adjusted EPS guidance of at least $9.00 but noted potential GAAP EPS changes due to strategic initiatives.

Humana and BlackRock formed a joint venture to manage CenterWell Senior Primary Care clinics, replacing a prior deal with WCAS. BlackRock won't have a put option, and Humana expects lower liabilities. CenterWell can buy clinics from 2028, and BlackRock can exit by 2033. Humana reaffirmed its 2023 EPS guidance of at least $9.

Humana (HUM) and BlackRock (BLK) formed a joint venture to manage 150 CenterWell clinics. BlackRock will hold a majority stake, acquiring WCAS's stake for $2.8B. The deal, expected to close in Q4 2026, aims to expand clinics and reduce Humana's liabilities. Humana's 2026 earnings guidance is unaffected. HUM pre-market +1.50%, BLK +0.14%.