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Humana Inc.

Managed healthcare and health insuranceFounded 1961
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Humana Acquisitions

3

Major Deals Covered

$6.5B

Disclosed Deal Value

What are Humana's biggest acquisitions?

Humana's largest disclosed acquisition here is Kindred at Home for $5.7B in 2021. This page covers 3 major deals from 2010 to 2021, each with its price where disclosed and the reason behind it.

Major deals covered
3
Largest deal
Kindred at Home ($5.7B)
First deal
2010
Most recent
2021
CompanyYearPricePurpose
Kindred at Home2021$5.7BHumana first bought a 40% stake in Kindred at Home in 2018 alongside TPG and Welsh, Carson, Anderson & Stowe, then acquired the remaining 60% in 2021 for about $5.7 billion to own a large home health provider.
Arcadian Management Services2012UndisclosedHumana acquired Arcadian, a Medicare Advantage plan operator, to add membership in several states.
Concentra2010$790.0MHumana bought Concentra, an operator of occupational-health and urgent-care clinics, in 2010 to add care delivery to its insurance business.
What companies has Humana bought?
Major acquisitions by Humana documented here include Kindred at Home (2021), Concentra (2010) and Arcadian Management Services (2012).
What is Humana's most recent acquisition?
The most recent Humana acquisition documented here is Kindred at Home, in 2021, for $5.7B.

Kindred at Home

2021

$5.7B

Why

Humana first bought a 40% stake in Kindred at Home in 2018 alongside TPG and Welsh, Carson, Anderson & Stowe, then acquired the remaining 60% in 2021 for about $5.7 billion to own a large home health provider.

Impact

The home health business became part of Humana's care-delivery arm and was later branded CenterWell Home Health. In 2022 Humana sold a majority stake in the hospice and personal care business to Clayton, Dubilier & Rice.

Outcome

Home health remains part of the CenterWell segment.

Source →

Arcadian Management Services

2012

Why

Humana acquired Arcadian, a Medicare Advantage plan operator, to add membership in several states.

Impact

Added Medicare Advantage members and markets.

Outcome

Integrated into Humana's Medicare business.

Source →

Concentra

2010

$790M

Why

Humana bought Concentra, an operator of occupational-health and urgent-care clinics, in 2010 to add care delivery to its insurance business.

Impact

Concentra gave Humana several hundred clinics across the United States.

Outcome

Completed in December 2010 for about $790 million. Humana sold Concentra in 2015 for about $1.06 billion.

Source →

Humana Inc.'s Growth & Acquisition Strategy

Humana's strategy under Jim Rechtin is to grow Medicare Advantage membership while rebuilding margins and quality scores. Key moves include completing the exit from employer-group commercial medical coverage in 2025, adding more than 1 million MA members for 2026, pruning about 600,000 members' worth of underperforming plans for 2027, investing in Star Ratings operations, and expanding CenterWell Senior Primary Care and CenterWell Pharmacy so that more member care runs through Humana-owned services. It is also bidding for and growing state Medicaid contracts, with a focus on members eligible for both Medicare and Medicaid.

How Humana Inc. Makes Money

Humana runs two reporting segments. The Insurance segment sells individual and group Medicare Advantage plans, stand-alone Medicare Part D drug plans, state Medicaid contracts, and administers TRICARE for the Defense Health Agency. It is paid largely by the federal government on a per-member, per-month basis adjusted for each member's health risk, and keeps the difference between those premiums and medical and pharmacy claims plus operating costs. The CenterWell segment provides services: CenterWell Senior Primary Care clinics, CenterWell Pharmacy (mail-order and specialty), and CenterWell Home Health. CenterWell serves Humana members and members of other plans, and it gives Humana direct influence over care costs for its own seniors.

Humana Acquisitions FAQ

What was the landmark acquisition of Kindred Healthcare and Kindred at Home by Humana?

In 2018, Humana partnered with private equity firms TPG and Welsh, Carson, Anderson & Stowe to acquire Kindred Healthcare for $4.1 billion. In August 2021, Humana acquired the remaining 60% stake in Kindred at Home for $5.7 billion, rebranding it as CenterWell Home Health to create the nation's largest home healthcare provider.

Why did Humana acquire primary care provider Family Physicians Group (FPG) in 2018?

In 2018, Humana acquired Florida-based Family Physicians Group, onboarding dozens of value-based primary care clinics serving Medicare Advantage and Medicaid patients across Central Florida, which served as a blueprint for CenterWell Senior Primary Care.

How did the acquisition of Curo Health Services expand Humana's hospice footprint?

In 2018, Humana and its private equity partners acquired Curo Health Services for $1.4 billion, combining it with Kindred's hospice operations into a nationwide hospice and palliative care provider (Gentiva), in which Humana subsequently divested a majority stake.

What was the strategic rationale behind Humana's acquisition of iCare (Independent Care Health Plan)?

In 2020, Humana acquired full ownership of Wisconsin-based iCare, expanding its specialized managed care capabilities for low-income individuals with complex disabilities and Dual-Eligible Special Needs Plans (D-SNPs).

How did the acquisition of Arcadian Health Plan in 2012 strengthen Humana's Medicare presence?

In 2012, Humana acquired Arcadian Health Plan for approximately $150 million, adding over 60,000 Medicare Advantage members across rural and mid-sized markets in 15 states.

What was Humana's joint venture with Welsh, Carson, Anderson & Stowe (WCAS) for senior primary care?

Humana formed multi-billion dollar joint ventures with WCAS in 2020 and 2022 to deploy over $2 billion in growth capital to open and ramp more than 100 new CenterWell senior primary care centers across high-growth U.S. metropolitan markets.

Why did Humana acquire digital pharmacy and medication platform Enclara Healthcare?

In 2020, Humana acquired Enclara Healthcare, the nation's largest hospice pharmacy and benefit management provider, enhancing CenterWell Pharmacy's specialized mail-order delivery and digital medication adherence technology.

What is Humana's current M&A focus within healthcare services?

Humana focuses M&A capital strictly on expanding CenterWell senior primary care clinic footprints, acquiring specialized home-health agencies, and integrating predictive healthcare analytics to enhance clinical outcomes and reduce total cost of care.

What companies has Humana acquired?

To dominate senior care, Humana executes massive vertical acquisitions. In 2021, they bought the remaining 60% of Kindred at Home for a staggering $8.1 billion, making them the absolute largest provider of home healthcare in the US. Historically, they also attempted a massive $37 billion merger with Aetna in 2015, which was brutally blocked by federal antitrust regulators.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.