News Report | August 10, 2009
Aetna to Acquire Horizon Behavioral EAP From Psychiatric Solutions for $70 Million
OPEN MINDS Weekly News Wire
Hot News
On July 31, 2009, Aetna, Inc., said it will buy employee assistance program (EAP) provider Horizon Behavioral Services LLC from Psychiatric Solutions, Inc., (PSI) for $70 million cash. The deal is expected to close in the fourth quarter of 2009. For the first six months of 2009, PSIs EAP business produced revenue of approximately $22.6 million. PSI intends to use the net proceeds from the sale to reduce its debt. The acquisition provides Aetna with expanded capabilities to offer broader mental health . . .