Hartford health care insurer Aetna Inc. is paying about $70 million cash for a major provider of employee assistance programs.
Horizon Behavioral Services, of Lewisville, Texas, is owned by Psychiatric Solutions Inc., operates freestanding psychiatric inpatient facilities.
The deal is subject to federal and California approvals, Aetna said.
Horizon serves approximately 1,400 public and private employers with more than 5 million covered employees worldwide.
The company provides round-the-clock confidential phone and online consultations and referrals to more than 14,000 licensed clinicians.
