Thursday November 2, 11:45 am ET
WebMD Health to Pay $60 Million in Cash and Stock to Acquire Online Tools Company Subimo
WebMD Health Corp., a provider of health information services on the Internet, said Thursday it will pay $60 million to acquire Subimo LLC, which provides online tools for making health care decisions.The purchase price includes $34 million in cash to be paid on the closing date, and $26 million in WebMD Class A common stock or cash, to be paid on the second anniversary of the close of the deal. The acquisition is expected to close in December.
The company said in a statement "the acquisition will enable WebMD to better address the emerging consumer-directed health plan market."
Subimo LLC had revenue of about $4.1 million and pretax income of $790,000 for the six months ended June 30.
Shares of WebMD Health rose 41 cents Thursday to $36.57 in morning trading on the Nasdaq.
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