Aetna makes $535M acquisition

Hartford-based Aetna said it has inked a deal to acquire Schaller Anderson Inc., a Phoenix-based manager of Medicaid and commercial health plans, for $535 million. The deal is expected to close some time in the third quarter of the year. Aetna said the acquisition fits with its corporate strategy of improving its ability to manage medical costs in Medicaid programs at the state and federal level. Schaller Anderson, through its subsidiaries, provides health plan services in eight states – Arizona, Cal., Del., Maine, Md., Mo., N.H. and Texas.