Aetna to acquire Medicity

Dec. 8, 2010

HARTFORD, Conn. – (BUSINESS WIRE) – Aetna today announced that it has entered into an agreement to acquire Medicity, a health information exchange technology company, headquartered in Salt Lake City, Utah. Medicity’s products and services enable health systems, hospitals, physician practices and health information exchanges to securely access and exchange health care information.

The purchase price is approximately $500 million. Aetna expects to finance the acquisition with available resources. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust regulatory approval. The transaction is projected to be neutral to Aetna’s financial results in 2011.

Medicity’s connected network provides collaboration and coordination of care delivered through a variety of communications tools, which helps physicians and other health care providers get timely clinical information about patients using the platform of their choice. Medicity’s health information exchange (HIE) technology reaches more than 760 hospitals, 125,000 physician users and 250,000 end users.

Medicity will operate as a separate business within Aetna, under its existing leadership structure.

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