May 13, 2012 – New York & San Mateo, CA – Towers Watson, a global professional services company, announced today that it has signed an agreement to acquire Extend Health, Inc., which operates the largest private Medicare exchange in the United States.
The transaction brings together Towers Watson’s benefits expertise and experience with Extend Health’s largest private Medicare exchange allowing employers to provide cost-effective benefit and retirees to increase plan choice and buying power.
The purchase price is $435 million, less net debt and certain transaction costs.
Following closing, Extend Health will operate as a new business segment within Towers Watson, joining its three existing segments of Benefits, Talent and Rewards, and Risk and Financial Services.
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