Managed care company Aetna Inc. (NYSE: AET) said Tuesday it has completed a $70 million acquisition of employee assistance program provider Horizon Behavioral Services LLC.
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Hartford, Conn.-based Aetna, which announced the deal in July, said Horizon will become part of Aetna Behavioral Health. The deal will not have a material impact on fourth-quarter earnings, spokesman Fred Laberge said.
Lewisville, Texas-based Horizon, the third-largest U.S. provider of employee assistance program services, compliments Aetna's existing business in that area, which focuses mostly on large companies.
Aetna bought Horizon from Psychiatric Solutions Inc.
Aetna shares fell 23 cents to $26.04 in Tuesday afternoon trading.
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