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Aenta Announces Intent to Acquire Horizon Behavioral
Jul 31, 2009
As you may know, Aetna has announced its intent to acquire Horizon Behavioral Services, LLC (Horizon) a leading provider of Employee Assistance Programs (EAP) to many mid-sized and large employers. Horizon is the third largest domestic EAP provider by membership, representing over 13 million members in 50 states and countries around the globe. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust approval and applicable regulatory approval in California.
Aetna is excited about this relationship because they view EAP counseling services and work/life benefits as crucial to preserving employee morale, especially during periods of downsizing and uncertain job security. These benefits are becoming increasingly popular as a means for employers to control costs and address serious workplace problems.
As Aetna approaches this new era of mental health parity, the ability to offer a wide range of programs designed to provide early intervention for members seeking help with life management issues will be increasingly important. This acquisition provides Aetna with expanded capabilities to offer broader mental health and wellness programs to serve an increasing market need.
This transaction will allow Aetna to better serve customers and their employees in the following ways:
- The addition of the complementary services provided by Horizon will further Aetna's efforts to engage members and provide them with the services they need before they experience a more serious health issue.
- The scale provided by this transaction will allow Aetna to provide a broad array of programs – such as work/life, legal and financial services, and wellness offerings – to an even broader audience. These services are particularly relevant given the current economic conditions and the need for support during these difficult times.
Horizon is one of the oldest and most respected EAP providers in the nation and has been providing customized behavioral health care solutions through employers for over 30 years. Horizon has established a reputation for improved clinical outcomes, superior client service, and cost-effective program administration. This acquisition will strengthen the already significant investment that Aetna has made in EAP services and will support the physical health, morale and work performance of their members.