WebMD Initiates $30 Million Stock Repurchase Program
NEW YORK, Dec. 4 /PRNewswire-FirstCall/ -- WebMD Health Corp. (Nasdaq: WBMD) announced today that it has repurchased 640,930 shares of WebMD Class A Common Stock for approximately $12.8 million from the former owners of Subimo, LLC, which was acquired by WebMD in December 2006. In addition, WebMD paid the former owners of Subimo approximately $2.8 million in cash pursuant to the terms of the previously completed Subimo acquisition.
In addition, WebMD announced the authorization of a stock repurchase program. Under the program, WebMD may use up to $30 million to purchase shares of its Class A Common Stock from time to time in the open market, through block trades or in private transactions, depending on market conditions and other factors.
WebMD Health Corp. (Nasdaq: WBMD) is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications. WebMD Health Corp. is a subsidiary of HLTH Corporation (Nasdaq: HLTH).
The WebMD Health Network includes WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theHeart.org.
All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These statements speak only as of the date of this press release, are based on our current plans and expectations, and involve risks and uncertainties that could
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