Aetna has entered into an agreement to acquire private health insurance exchange operator bswift for $400 million, the carrier giant said Monday.
Bswift, a software and technology services company that administers public and private exchanges for consumers and employees, will become an Aetna unit. Its technology aims to streamline payroll benefits and human resources administration.
The acquisition is expected to close before the end of the year.
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Aetna has already bet big on both private and public exchanges. The carrier created its own private exchange and participates in others, such as Aon Hewitt's.
"Bswift's consumer-friendly technology for benefits shopping and administration is an excellent fit with our proprietary exchange strategy," Aetna CEO Mark Bertolini said in a statement. "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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