Aetna to Acquire Horizon Behavioral Services – Provider of of Employee Assistance Programs for Employers
Posted Aug 04 2009 6:03pm
If your company participates in a wellness program you could already be familiar with the company and the benefits offered. It seems as if the insurance companies are investing in both providing mental wellness/illness services. Perhaps some of the information analyzed is helping to create programs to somehow communicate how to understand the complicated world of health insurance too. Recently the company also contracted with Jellyvision to provide visuals to help provide additional information in a different format. As mentioned, this company is the same one who uses interactive entertainment in other media areas. BD
“Jellyvision is best known for its best-selling interactive entertainment properties such as YOU DON’T KNOW JACK and the Who Wants To Be A Millionaire CD-ROM, so maybe the sequels here might be “ who wants to get a health care claim paid” or “You don’t Know Aetna”. They could always opt to make the plans simpler but that would be too easy I guess to just take care of patient health issues.”
Aetna (NYSE: AET) today announced that it has entered into an agreement to acquire Horizon Behavioral Services, LLC. Headquartered in Lewisville, Texas, Horizon Behavioral Services is a leading provider of Employee Assistance Programs to many mid-sized and large employers.
The purchase price is approximately $70 million. Aetna expects to finance the transaction from available cash. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino anti-trust approval and applicable regulatory approvals in California.
Aetna will acquire Horizon Behavioral Services from its parent company, Psychiatric Solutions, Inc. (NASDAQ: PSYS) the nation’s largest operator of owned or leased freestanding psychiatric inpatient facilities.
Horizon Behavioral Services is the third-largest domestic provider of EAP services by membership with approximately 1,400 contracted employer clients representing over 5 million covered employees in all 50 states and countries around the globe. The company provides unlimited 24/7 confidential telephonic consultation, comprehensive online employee assistance program and work/life resources and access to a referral network of more than 14,000 licensed clinicians. Horizon’s clients include publicly and privately held companies, including Fortune 500 companies, government agencies, and various not-for-profit entities such as hospital systems.