Aetna to Buy Medicity for $500 Million

Aetna Inc. announced that it has entered into an agreement to acquire Medicity Inc., a health information exchange technology company, for about $500 million.

Medicity, Salt Lake City, Utah provides an array of products and services to health systems, hospitals, physician practices and health information exchanges to help them gain access to and share health care data securely.

Medicity’s health information exchange technology reaches more than 760 hospitals, 125,000 physician users and 250,000 end users.

Aetna (NYSE:AET), Hartford, says it expects to finance the acquisition with available resources. It projects the deal would be neutral to its financial results in 2011.