Humana has acquired Florida-based primary care provider MaxHealth from Arsenal Capital Partners, in a transaction that will see the business integrated into Humana’s CenterWell Senior Primary Care division, according to a report by Bloomberg.
Financial terms were not disclosed. However, Bloomberg previously reported that Humana was in talks to acquire MaxHealth from private equity firm Arsenal Capital for around $1bn. The deal follows comments from Humana Chief Executive Jim Rechtin earlier this week indicating the insurer was close to announcing a primary care acquisition.
Tampa-headquartered MaxHealth operates more than 80 owned and affiliated clinics across West and South Florida, serving over 120,000 patients. The business was acquired in 2021 by Best Value Healthcare, a platform backed by Arsenal Capital.
Humana was advised on the transaction by JPMorgan Chase and Latham & Watkins, while MaxHealth was advised by Guggenheim Securities and Morgan Stanley, with Sidley Austin acting as legal counsel. The acquisition comes as Humana expands its primary care footprint amid ongoing pressure on Medicare Advantage margins.
