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HLTH, WebMD Merger Off

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Oct 20, 2008 

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Kathleen  |

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HLTH, WebMD Merger Off

ADOTAS – Economic turmoil has forced HLTH Corp. and WebMD to cancel their long-planned merger. WebMD is a majority-owned subsidiary of HLTH, and both boards decided to terminate the agreement, saying its $340 million in cash and investments and lack of long-term debt will keep WebMD in good stead.

The company boards also cite fears about the ongoing trouble in the credit market, saying that WebMD’s growth would have been stymied by HLTH’s $650 million in long-term debt.

HLTH owns 84% of WebMD.

Tags: Acquisition, finance, HLTH-Corp., internet-marketing-advertising, Merger, revenue, stock and webmd

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