Private Equity: Humana Enters JV to Open New Medicare Advantage Centers
The deal will likely boost the firm’s footprint in the primary care industry.
Humana (NYSE: HUM), the U.S. insurance giant, has launched a joint venture with a private equity firm. The agreement will see Humana launch new primary-care centers for Medicare Advantage enrollees. Humana’s deal is with Welsh, Carson, Anderson & Stowe.
Under the deal’s terms, the private equity firm will commit at least $600 million and hold a majority stake in the new firm. The insurance company will only own a “small minority stake” but can later purchase the PE firm’s stake at a later date.
Humana Boosts its Senior Care Plans
Meanwhile, Humana currently operates 47 senior primary care centers in six states under its brand Partners in Primary Care. It also operates 104 senior care centers through its Conviva Brand. Those centers will not operate under the new joint venture.
Furthermore, the insurance giant now serves 4.1 million seniors in Medicare Advantage. The company plans to expand its Advantage membership by up to 420,000 people by December 2020.
“Partners in Primary Care is well-positioned to meet the health needs of the growing senior population with our integrated primary-care platform,” said Renee Buckingham, segment president of Humana’s care-delivery organization. “Our integrated, whole-person, value-based care model comprehensively and proactively addresses chronic conditions, wellness and social determinants of health.”
Latest Alternative Investment News
LIVIN Farms, an industrial technology provider in the alternative protein industry, has developed HIVE PRO, a fully automated process that allows waste management companies and large scale food producers to…
Digital Assets: Sam Bankman-Fried’s FTX US Wins Auction For Voyager Digital’s Bankruptcy Assets With $1.4B Bid
West Realm Shires Inc., dba FTX US, has won the bankruptcy auction for the assets of Voyager Digital with a bid of about $1.422 billion. It was held to be…
Clearview AI announced its win of the “Scalable Training Data Preparation Pipeline And Efficient Distributed Trainer For Deep Neural Networks In Facial Recognition” patent (U.S. Patent No. 11,443,553) issued by…
Newday offers portfolios addressing the world’s most pressing environmental and social issues including climate action, ocean health, clean water, diversity, equity and inclusion, wildlife conservation and animal welfare, and stakeholder…