Davis Polk Advises Aetna On $202M PayFlex Buy

Law360, New York (July 18, 2011, 4:27 PM EDT) -- Aetna Inc. announced Monday it had agreed to acquire Web-based health plan administrator PayFlex Holdings Inc. for about $202 million in an effort to make its existing online services more consumer-friendly.

Aetna, which provides health insurance to more than 33 million people, said it would use existing cash resources to purchase Omaha, Neb.-based PayFlex, and expected to close the transaction in the second half of this year with little effect on financial results.

“With an increased focus on consumerism, the acquisition of PayFlex will extend Aetna’s...
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