Aetna Inc. (NYSE: AET) said Friday it will buy employee assistance program provider Horizon Behavioral Services LLC from Psychiatric Solutions Inc. (NASDAQ: PSYS) for $70 million cash.
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Horizon is the third-largest
Psychiatric Solutions said the business produced about $22.6 million revenue for the first six months of 2009. It plans to use the proceeds to pay down debt.
The deal is expected to close in the fourth quarter, according to Associated Press.
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