AXA SA (CS.FR) will acquire U.S. health-administration company Maestro Health Inc. for $155 million, the French insurance provider said Monday.
Chicago-based Maestro Health provides a digital platform for companies to manage their health-benefit administration, enabling them to lower their overall health-care costs, AXA said in a release.
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Maestro has more than 300 employees and targets mid-size and large-size employers across the U.S., AXA said.
The acquisition fits into AXA's strategy to dedicate 200 million euros ($244.4 million) a year to innovation, said Chief Innovation Officer Guillaume Borie.
The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2018, AXA said.
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(END) Dow Jones Newswires
January 22, 2018 12:30 ET (17:30 GMT)