Latham Represents BlackRock and HPS Investment Partners in New Strategic Joint Venture With Humana to Manage CenterWell Senior Primary Care Clinics

Humana Inc. (NYSE: HUM) has announced it has entered into a new joint venture agreement with funds and accounts managed by HPS Investment Partners, a part of BlackRock, to manage and operate an existing network of nearly 150 CenterWell Senior Primary Care clinics that currently sit within joint ventures owned by funds affiliated with WCAS and CenterWell. The new joint venture, majority owned by BlackRock and minority owned by CenterWell, will replace the current CenterWell and WCAS joint ventures that were instrumental in successfully scaling CenterWell into the nation’s largest provider of senior-focused value-based primary care over the last seven years.

Latham & Watkins LLP represented BlackRock and HPS Investment Partners in the transaction with a Hybrid Capital team led by partners Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, Peter Sluka, Global Co-Chair of Latham’s Hybrid Capital Practice, and John Miller, Global Vice Chair of Latham’s Hybrid Capital Practice, with associates John Daywalt, Justin Reinking, and Johnny Zhuang. Advice was also provided on capital markets matters by partner Jennifer Ying Lan, with associates Jakub Jozwiak and Matthew Bultman; on restructuring matters by partner David Hammerman, with associate Jonathan Gordon; on antitrust matters by partner Patrick Campbell English, with associates Kristen Previto and Sabrina Feng; on healthcare matters by partner Betty Pang and counsel Yanyan Zhou; and on tax matters by partner Eric Kamerman.