Towers Watson Acquires Largest Medicare Advantage Exchange for $435M

Professional services firm Towers Watson announced it will acquire Extend Health — the operator of the largest private Medicare exchange in the United States — for $435 million, less net debt and certain transaction costs.

The two organizations were working under a "strategic alliance" since last August. Extend Health was founded in 2004 to serve Medicare-eligible retirees and their corporate employers and place them in various Medicare Advantage plans.

The deal is expected to close in less than two months pending legal and regulatory review.

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