Aetna has completed its $500 million acquisition of Medicity, a Salt Lake City-based company that develops health information exchange technology.
Aetna completes Medicity deal
Medicity, which claims 760 hospitals and 125,000 physicians as customers, will operate as a separate company within the Hartford, Conn.-based insurer, according to a news release from Aetna. The deal was first announced in December.
"Strategically, we believe this acquisition will enhance Aetna's capabilities and accelerate our growth in the health information technology and health information exchange space," Aetna CEO and President Mark Bertolini said in a news release when the deal was announced.
Analysts expect insurers to grow more interested in diversifying their businesses with health IT as national healthcare reform puts a premium on data and while placing new restrictions on health plans.
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