NEW YORK (Reuters) May 25 - U.S. health insurer Aetna Inc. said on Thursday it agreed to acquire privately-held Schaller Anderson Inc., a provider of health care management services for Medicaid plans, for about $535 million.
Aetna expects to close the transaction during the third quarter of 2007, and that it will add to earnings during 2008.
Schaller Anderson's subsidiaries provide health plan services in eight states: Arizona, California, Delaware, Maine, Maryland, Missouri, New Hampshire and Texas.
The combined Medicaid businesses of Aetna and Schaller Anderson will be based in Phoenix.
Founded in 1986, Schaller Anderson has about 1,800 employees.
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