Towers Watson acquires Extend Health

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced the completion of its acquisition of Extend Health, Inc., which operates the largest private Medicare exchange in the United States. The acquisition enables Towers Watson to provide employers with health care solutions that combine specialized retiree medical transition consulting with the choice and cost advantages of individual Medicare plans purchased on a private exchange.    

"Extend Health's proven infrastructure and scalable exchange platform bring a dynamic new offering to Towers Watson," said John Haley, CEO of Towers Watson. "Our market-leading solutions will provide our clients with an immediate and unprecedented opportunity to deliver retiree medical benefit packages in a new and cost-effective way."

Extend Health will operate as a new business segment called Exchange Solutions within Towers Watson alongside the existing segments of Benefits, Talent and Rewards, and Risk and Financial Services. Bryce Williams, co-founder and CEO of Extend Health, will lead the new segment.

"We are excited to join Towers Watson at this crucial time when many companies are rethinking their retiree health benefits," said Williams. "We look forward to meeting the evolving needs of employers and retirees by building on both organizations' deep commitment to innovative, proven solutions and unwavering client service."