Health insurer Humana will inves $1.2 billion in a joint venture to develop its primary care clinics.
The firm is working with the private equity company Welsh, Carson, Anderson & Stowe (WCAS) for the project.
Humana’s CenterWell Senior Primary Care division will be the expanded WCAS partner.
CenterWell and WCAS will collaborate to build 100 additional senior-focused, payer-agnostic primary care clinics between 2023 and 2025.
Reneé Buckingham, president of Humana’s primary care organization, said: “Early success has led to increased interest in our payer-agnostic model, and under this new joint venture, we look forward to significantly expanding our geographic footprint and serving even more patients in more communities around the country.”
The success and growth of senior-focused value-based primary care may lead to a partnership between these organizations and home health providers, allowing providers to participate in risk-sharing models.
The initial partnership set aside $800 million for the establishment of 67 clinics by early 2023.
What is Humana?
What does it do? Humana is a for-profit health insurance firm
Where is it based? It is headquartered in Louisville, Kentucky.
How many people does it employ? The company now employs around 95,500 people.
What is its annual revenue? As of 2021, the company’s total revenue was more than $80 billion.