Davis Polk is advising Aetna Inc. in connection with the sale by Aetna and Humana Inc. of certain of their respective Medicare Advantage assets to Molina Healthcare, Inc. for a total estimated $117 million in cash. The transactions are subject to the successful completion of Aetna’s proposed acquisition of Humana, CMS approvals and actions and customary closing conditions, including state and other regulatory approvals.

Aetna is one of the nation’s leading diversified health care benefits companies, serving an estimated 46.5 million people. Humana, headquartered in Louisville, Kentucky, is a leading health and well-being company. Molina Healthcare provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces.

The Davis Polk corporate team includes partners H. Oliver Smith and Harold Birnbaum and associates Taylor Thompson and Andrew D. Krause. Partner Jason Kyrwood and associate Ilona C. Potiha are providing credit advice. Partners Richard J. Sandler and Shane Tintle are providing capital markets advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Partner Rachel D. Kleinberg is providing tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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