Aetna Inc., Hartford, has announced its agreement to acquire a leading provider of employee assistance programs.
The health care benefit company will purchase Horizon Behavioral Services L.L.C., Lewisville, Texas, from Psychiatric Solutions, Inc., Franklin, Tenn., for about $70 million.
HBS is the third-largest provider of employee assistance programs in the U.S., with 1,400 employer clients that cover over 5 million employees around the world, Aetna says.
HBS provides confidential consultation to plan members and their families over the phone and online and provides access to more than 14,000 clinicians.
Aetna says it expects to use cash to finance the transaction.
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