November 3, 2014 – Hartford, CT – Aetna today announced that it has entered into an agreement to acquire privately held bswift, which provides a technology platform that offers a retail shopping experience for health insurance exchanges and employers nationwide. Additionally, bswift offers benefits administration technology and services to employers.
The purchase price is approximately $400 million, which Aetna expects to finance with available resources. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust regulatory approval. The acquisition is expected to close before the end of the year. As financed, the transaction is expected to be neutral to 2014 and 2015 operating earnings per share.
“Bswift’s consumer-friendly technology for benefits shopping and administration is an excellent fit with our proprietary exchange strategy,” said Mark T. Bertolini, Aetna chairman, CEO and president. “With more employers giving employees their choice of benefits via private exchanges, bswift’s technology platform will provide Aetna with the capability to deliver a new private-exchange offering for employers of all sizes where the focus is on helping people easily choose a plan that’s right for them and their families.”
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