AXA to Acquire Maestro Health for $155 Million

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.

Write to Nathan Allen at

(END) Dow Jones Newswires

January 22, 2018 12:30 ET (17:30 GMT)