Aetna to Acquire Medicity for $500M

Aetna AET today announced that it has entered into an agreement to acquire Medicity, a health information exchange technology company, headquartered in Salt Lake City, Utah. The purchase price is approximately $500 million. Aetna expects to finance the acquisition with available resources. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust regulatory approval. The transaction is projected to be neutral to Aetna's financial results in 2011.