Broadspire’s disability business operates as a third party administrator offering absence management services, including short-term and long-term disability administration and leave management, to employers, according to the announcement.
Aetna expects this acquisition will increase its disability membership to around 5 million, by adding approximately 1.3 million short-term disability members, 1 million in long-term disability and 700,000 members in total absence management, which includes Family and Medical Leave Act absence management.
Ronald Williams, Aetna CEO and president, said in the announcement, “This transaction fits well with Aetna’s stated strategy of making acquisitions designed to enhance the company’s capabilities. In addition, we believe it will provide significant opportunities to cross-sell medical, disability, group life and other products within both the Aetna and Broadspire disability business’ customer base.”
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