Business

WebMD Health's IPO soars

NEWS IN BRIEF — Posted Oct. 17, 2005

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WebMD Health Corp.'s initial public offering of stock closed at $24.40 on its first day of trading on Sept. 29, up 39% from its offering price of $17.50 a share. The offering raised about $192.5 million for the company.

The offering price was at the upper end of the range of $15.50 to $17.50 a share that WebMD Health's underwriters had set for 6.9 million shares.

Strong demand for the IPO, had led Morgan Stanley and Citigroup to raise the initial range of $13.50 to $15.50 a share for WebMD Health, a subsidiary of Emdeon Corp., formerly WebMD Corp.

New York-based Emdeon sells physician practice management software and medical-transaction processing services while WebMD Health sells online health information to physicians and consumers.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/10/17/bibf1017.htm.

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