Humana (NYSE:HUM)
Partners in Primary Care and Welsh, Carson, Anderson & Stowe (WCAS)
have entered into the joint venture (JV) that will expand access to
value-based primary care for Medicare patients.
The JV will develop and operate senior-focused,
payor-agnostic, primary care centers, which will be managed and operated
by Humana’s wholly-owned subsidiary, Partners in Primary Care.
WCAS together with Humana, is making an initial
commitment of ~$600M to the JV. WCAS will have majority ownership in the
new company whereas Humana will own a small minority stake.
Partners in Primary Care will receive a management
fee, including performance-based incentives, for the management of all
JV centers.
In addition, the agreement includes a series of
put and call options through which Partners in Primary Care may acquire
WCAS’s interest in the JV.
https://seekingalpha.com/news/3537174-humana-forms-jv-to-expand-primary-care-centers
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