Private Equity: Humana Enters JV to Open New Medicare Advantage Centers

February 4, 2020 | Investments, News, Private Equity
https://dailyalts.com/wp-content/uploads/2020/02/53e6d6474851b114a6d98074cf213576083edbed5359754a742778_640.jpg

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.”

Related: Alternative Investments: Now, BlackRock, Temasek in Chinese Wealth Management JV

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…