Hartford health insurer Aetna said it is paying $400 million to buy bswift, a Chicago-insurance IT provider that lets consumers shop for plans and employers administer benefits and services, for $400 million.
The deal, which is expected to close by year’s end, gives Aetna a new private-exchange offering for plan shoppers.
Bswift was founded 14 years ago and has 380 employees. The company is owned by its employees and private investors, including private equity firm Great Hill Partners.
Aetna said bswift would continue to operate as a separate business once the deal is complete.
