Business
WebMD Health's IPO soars
NEWS IN BRIEF — Posted Oct. 17, 2005
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.