Aetna Inc. has completed a previously announced $390 million acquisition of HMS Healthcare Inc.[@@]

Aetna bought HMS, a provider network company that helps supply health care for 1.8 million health plan members, from KRG Capital Partners L.L.C., Denver. KRG uses cash from wealthy individuals and institutional investors to buy other companies.

KRG set up HMS to run managed care company holdings in 2004, when it acquired Sloans Lake Preferred Health Network, a Colorado provider network company. KRG later acquired PPOM L.L.C., a Michigan company that operates provider networks in the Midwest.