WebMD, a U. S. company famous for its online health information, announced Monday that it will be purchased by the private equity firm KKR for $2.8 billion.<\/b>
\nWebMD, a U. S. company famous for its online health information, announced Monday that it has agreed to be purchased by the private equity firm KKR for $2.8 billion.
The health services conglomerate first announced in February that it was undergoing a process of exploring and evaluating \u201cpotential strategic alternatives, \u201d according to the company\u2019s press release.
\u201cThroughout this process, our Board has conducted diligent analysis and thoughtful deliberations, \u201d WebMD Chairman Martin J. Wygod said in the official announcement. \u201cWebMD and its financial advisors had a process that involved outreach to more than 100 strategic and financial parties, and we are confident that this transaction maximizes value for our stockholders.\u201d
The deal will bring together a number of different medical-related websites, including WebMD\u2019s eponymous pages, Medscape.com and MedicineNet.com, as well as KKR\u2019s DentalPlans.com and AllAboutCounseling.com. Medscape in particular accounted for roughly 60 percent of WebMD\u2019s 2016 advertising revenue, Reuters reports. (RELATED: 3D-Printing Startup Wants To Make Prosthetic Limbs Affordable)
\u201cWebMD and Medscape are the market leaders in online health with unparalleled reach to consumers and healthcare professionals, \u201d said Bob Brisco, CEO of Internet Brands, which KKR owns. \u201cSince its founding, WebMD has established itself as a trusted resource for health information. We look forward to delivering that resource to even more users, by leveraging our combined resources and presence in online healthcare to catalyze WebMD\u2019s future growth.\u201d
It is not clear, though, how these forums, databases and sites will be affected, such as if they will be consolidated or remain separate.
The acquisition is expected to be fully completed during the fourth quarter of 2017.
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