KKR to buy WebMD in whooping Rs 18,000 crore deal
Online health publisher WebMD Health Corp said it agreed to be bought by private equity firm KKR & Co in a deal valued at about 2.8 billion dollars (Rs 18000 crore).
The deal brings together WebMD's websites, such as WebMD.com, Medscape.com and MedicineNet.com, and those owned by KKR unit Internet Brands Inc, including DentalPlans.com and AllAboutCounseling.com.
KKR will pay 66.50 dollar per share, a premium of 20.5 percent to WebMD's Friday closing price. WebMD's shares were trading at $66 before the opening bell.
Reuters reported on Sunday that KKR was nearing a deal to buy the online health information provider.
Founded in 1996, WebMD has grown into one of the most popular health websites for consumers and medical professionals, attracting more than 70 million monthly unique visitors in 2016, according to analytics company comScore Inc.
WebMD also owns medical news and education brand Medscape, which accounted for around 60 percent of its advertising revenue in 2016.
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