SOUTHERN CROSS TO ACQUIRE AETNA HEALTH NEW ZEALAND

New Zealand health insurance provider Southern Cross Medical Care Society is to acquire Aetna Health (NZ), the two insurers said today. Aetna NZ is owned by US health insurer Aetna, which is restructuring its holdings worldwide. In New Zealand Aetna provides health insurance, health services to the government’s Health Funding Authority and programmes to manage workplace injuries. Southern Cross is a member-owned society which owns 13 hospitals as well as offering insurance and workplace injury prevention and claims-processing services. Southern Cross Healthcare chief executive Roger Bowie said that the company would acquire Aetna NZ’s “state of the art” information systems and would retain its status as a not-for-profit organisation. The Aetna brand is not included in the sale.