---
schema_version: "secwatch.filing_event.v1"
accession: "0000049071-26-000060"
form_type: "8-K"
ticker: "HUM"
cik: "0000049071"
company_name: "HUMANA INC"
filed_at: "2026-10-13T10:04:36+00:00"
generated_at: "2026-10-13T10:05:11.194400+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Humana forms CenterWell JV with BlackRock; $2.8B WCAS stake; affirms $9+ FY26 EPS

## Summary
- New JV with BlackRock (HPS Investment Partners) to manage ~150 CenterWell Senior Primary Care clinics; BlackRock acquires WCAS stake valued ~$2.8B; BlackRock majority owner, CenterWell minority.
- No put option; derivative recorded at fair value; significant reduction in balance sheet liabilities vs existing WCAS put arrangements; lower cost of capital.
- CenterWell may purchase clinics starting 2028; if not all acquired by end 2033, BlackRock can exit via sale; CenterWell has right of first offer. Min return protections for BlackRock.
- Transaction expected to close Q4 2026, subject to regulatory approval; not expected material to 2026 adjusted EPS. Humana affirms FY2026 Adjusted EPS guidance of at least $9.00.
- Second BlackRock transaction this year: prior divestiture of minority interest in Gentiva to consortium including BlackRock. Advisors: Guggenheim lead financial advisor, Goldman Sachs.

## SEC filing metadata
- accession: 0000049071-26-000060
- form_type: 8-K
- ticker: HUM
- cik: 0000049071
- company_name: HUMANA INC
- filed_at: 2026-10-13T10:04:36+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49071/000004907126000060/0000049071-26-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49071/000004907126000060/hum-20261013.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049071-26-000060
- JSON: https://secwatch.observer/filing/0000049071-26-000060.json
- Plain text: https://secwatch.observer/filing/0000049071-26-000060.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.