Ropes & Gray Represents Welsh, Carson, Anderson & Stowe in a Joint Venture with Humana’s CenterWell Senior Primary Care
Ropes & Gray represented Welsh, Carson, Anderson & Stowe (WCAS) in a joint venture with Humana’s CenterWell Senior Primary Care to deploy up to $1.2 billion of capital to develop approximately 100 new value-based primary care clinics for Medicare patients between 2023 and 2025. Terms of the agreement were not disclosed. The announcement was made on May 16 in a press release.
This transaction follows a previous joint venture between WCAS and CenterWell Senior Primary Care deploying up to $800 million of capital to develop 67 clinics by early 2023. WCAS is a leading U.S. private equity firm focused on the health care and technology industries. Since its founding in 1979, WCAS has raised and managed funds totaling over $30 billion of committed capital.
The Ropes & Gray team was led by private equity partners Patrick Dorime and Othon Prounis, and included leveraged finance partner Jay Kim, health care partners Devin Cohen and Timothy McCrystal, tax partners Leo Arnaboldi III and Jay Milkes, asset management partners Morri Weinberg and Lindsey Goldstein, benefits partner Alexandra Alperovich, litigation & enforcement partners David Hennes and Samer Musallam, asset management counsel John Wang, private capital counsel Andrea Conzatti and Nichole Lopez-Tackett, and antitrust counsel Deidre Johnson.