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 cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet and information technology industries. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.
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