Extend Health officially withdraws IPO following acquisition

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Extend Health, which provides health benefit management technology and operates a private Medicare exchange, withdrew its plans for an initial public offering on Wednesday. The company, which had filed for a $75 million IPO, was acquired by Towers Watson for $435 million in May 2012. The San Mateo, CA-based company was founded in 2004 and booked $64 million in sales for the 12 months ended 3/31/2012. Morgan Stanley and Barclays were set to be the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs

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