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Healthways Signs Definitive Agreement to Acquire Axia Health Management.

Article Excerpt
Combination to Offer Industry's Broadest Spectrum of Coordinated

WholeHealth Solutions

NASHVILLE, Tenn. & TEMPE, Ariz. -- Ben Leedle, president and CEO of Healthways, Inc. (NASDAQ: HWAY), the nation's leading provider of Health and Care Support(SM) services, and Ben Lytle, CEO of Axia Health Management, LLC (Axia), the leading national provider of preventive health and wellness programs, today jointly announced they have signed a definitive agreement whereby Healthways will purchase Axia. The $450 million acquisition, which is anticipated to be accretive to Healthways' financial results for fiscal 2007, is expected to close before the end of the calendar year, subject to the satisfaction of customary closing conditions, including obtaining Hart-Scott-Rodino (HSR) clearance. The transaction will be financed through a combination of cash on hand and committed bank debt.

Strategic Fit

"Our agreement to purchase Axia represents a major step forward in our continuing strategy to provide, or enable our customers to provide, WholeHealth solutions, a full spectrum of integrated, personalized, proven and evidence-based interventions to maintain or improve health and productivity," Leedle said. "Axia's programs, when combined with our current set of Health and Care Support(SM)services, will transform the market and clearly position us as the industry leader and partner of choice for commercial and Medicare Advantage health plans, employers and government. Further, the addition of Axia's unique national network will enable consumers to obtain everything from in-person health...

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