Aetna, Leading Global Provider Of Healthcare Benefits, Acquires Indian Health Organisation (IHO) To Create India Footprint
In a move that marks Aetna International's entry in India, the company recently acquired Indian Health Organization Pvt Ltd.
- (1888PressRelease) July 14, 2011 - (IHO), an Indian start-up that offers (consumers?) access to quality medical and dental care at a savings through a credentialed provider network.
With a base of 80,000 members already enlisted as IHO customers, this acquisition provides Aetna with the right platform to build a broader provider network in the country; and work towards its vision of helping people live healthier lives. While this allows an opportunity for Aetna to diversify into a new geography, this acquisition also aligns with their long term strategy of providing health care services that focus on the wellness and prevention domain.
While the financial terms of the transaction have not been disclosed, Aetna benefits with direct access to a robust customer base and also a network of approximately 3,000 doctors, dentists, clinics and labs, as well as preventative care and wellness programs.
Derek Goldberg, Aetna's Managing Director, South East Asia, said, "India's growing health care market presents tremendous opportunity. The out-of-pocket medical spend in India is more than $30 billion annually, which is more than 60% of the total health care expenditure in the country. The service offered by IHO targets that direct consumer spending on health care by providing access to primary and preventative care."
Goldberg also added, "IHO provides Aetna with the opportunity to develop a presence in India and build out a broader provider network, serving both the local market and our expatriate members."
Visham Sikand, IHO's co-founder and business development head, said, "As a global leader in health care, Aetna has the expertise and resources to take IHO's business to the next level. I am excited about the prospects of making quality health care and wellness programs more affordable and accessible for consumers in India."
Intending to retain the management and all employees at IHO, Aetna is convinced that IHO's network and market insight coupled with Aetna's global expertise and resource strength will make a strong statement by making health care and wellness programs more affordable and accessible for consumers in India.
About Aetna International
Aetna International is committed to helping create a stronger, healthier global community by delivering comprehensive health benefits and health management solutions worldwide. Aetna International's expatriate business is one of the industry's largest and most prominent U.S.-based international health benefits providers, supporting more than 400,000 members worldwide. The organisation's expatriate offerings include medical, dental, vision, life, disability and emergency assistance. Aetna International's health management business collaborates with health care systems, government entities and plan sponsors around the world to design and build locally-applied health management solutions to improve health, quality and cost outcomes. For more information, see www.aetnainternational.com.
About Aetna
Aetna is a leading global diversified health care benefits company headquartered in the U.S., serving approximately 33.8 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
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