A large health insurer is expanding its disability services operations.
Aetna Inc., Hartford, says it is acquiring a large disability services business from Broadspire, Plantation, Fla., a unit of Platinum Equity L.L.C., Beverly Hills, Calif., for about $160 million in cash.
Aetna now has about 2.6 million long-term disability and short-term disability insureds.
The Broadspire disability services program has about 85 large customers. Those customers’ disability plans have 1.3 million short-term disability members, 1 million long-term disability members and 700,000 members in total absence management programs, Aetna says.
The Broadspire disability business has 600 employees in Florida and more than 200 employees in offices in Maine and Massachusetts.