HARTFORD, Conn., July 18, 2005 – Aetna (NYSE: ΑET) today announced that it has completed its acquisition of HMS Healthcare, a leading regional health care network headquartered in Colorado, with operations in Michigan, Colorado and other states. Aetna announced on June 24 its agreement to acquire HMS Healthcare for approximately $390 million. The transaction was financed from available cash.
"This acquisition enhances Aetna’s ability to provide employers and individuals in Michigan and Colorado access to affordable, high-quality health care," said Ronald A. Williams, Aetna president. "It simultaneously meets two of Aetna’s stated objectives for strategic acquisitions: It enables us to enter an attractive new market segment and improve our local position in important geographic markets."
As one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 14.4 million medical members, 12.8 million dental members, 9.0 million pharmacy members and 14.0 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 672,000 health care professionals, including approximately 400,000 primary care and specialist doctors and 4,084 hospitals. For more information, please visit www.Aetna.com. (Figures as of March 31, 2005)