Fergie's Tech Blog

WebMD Files $90M IPO

Via Red Herring.

WebMD Health said on Wednesday it plans to file for an initial public offering of 6.9 million shares to generate more working capital and for general corporate expenses.

The subsidiary of online health advice site WebMD estimates the price will be between $13.50 to $15.50 per share of the Class A stock. WebMD plans to officially change its corporate name to Emdeon on September 29 but began using the new name on August 4. It will continue to use the WebMD brand, however.

Morgan Stanley, Citigroup, and Goldman Sachs will be underwriting the offering. The underwriters also have the option to buy another 1.03 million shares to cover their over-allotments.

WebMD Health provides “health information services to consumers, physicians, healthcare professionals, employers, and health plans through our public and private online portals and health-focused publications,” according to the company’s filing with the U.S. Securities and Exchange Commission.

posted by Fergie @ 9/14/2005 07:57:00 AM