Aetna has entered into an agreement to acquire privately held Bswift for approximately $400 million.
Bswift provides software and services that help streamline benefits, HR and payroll administration for employers and health insurance exchanges across the U.S. The company’s technology platform includes buying assistance and education features to help people make informed and personalized benefit choices, including an “Ask Emma” interactive decision support tool.
Based in Chicago, Bswift was founded in 2000 and has approximately 380 employees.“With more employers giving employees their choice of benefits via private exchanges, Bswift’s technology platform will provide Aetna with the capability to deliver a new private-exchange offering for employers of all sizes where the focus is on helping people easily choose a plan that’s right for them and their families,” said Mark T. Bertolini, Aetna chairman, CEO and president.
Based in Chicago, Bswift was founded in 2000 and has approximately 380 employees. The company has experience in handling public, private and broker exchanges and serving employer groups of all sizes. It is currently owned by its employees and numerous investors, including private equity firm Great Hill Partners.
The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust regulatory approval. The acquisition is expected to close before the end of the year. As financed, the transaction is expected to be neutral to 2014 and 2015 operating earnings per share.
Bswift will operate as a separate business within Aetna under its existing leadership structure.