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Aetna Finalizes Two Acquisitions Totaling $492 Million

Posted on 04 Oct 2011

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Aetna completed two acquisitions that it had previously announced -- Genworth Financial's Medicare supplement business and PayFlex Holdings Inc.

Aetna announced in June it was planning to buy Genworth's Medicare supplement business, Continental Life Insurance Co. of Brentwood, Tenn., for $290 million which it financed with available resources.

In July, Aetna said it planned to buy PayFlex Holdings, a health plan administrator, for $202 million.