NEW YORK (MarketWatch) – WebMD Health, the profitable online health service owned by WebMD, on Thursday filed a $50 million initial public offering in a bid to boost its business under a new, soon-to-be determined name.
The company sells health information services to patients, doctors and healthcare professionals through its online portals.
WebMD Health revenue was $33.6 million for the first quarter compared to $26.3 million in the prior year, an increase of 27.6%. Income before taxes, non-cash and other items was $4.9 million compared to $4.5 million in the prior year.
WebMD Health said it plans to retain all of the proceeds of the IPO for general corporate purposes, including capital expenditures and acquisitions.
The IPO came after parent company WebMD
disclosed plans last year to separate the company during a strategic review.
Shares of WebMD rose 8 cents to $9.63 on Thursday.
The company said the $50 million figure in the IPO filing, “was set forth solely for the purpose of calculating registration fees and is not indicative of the final size and terms of the securities being offered.”
The final size and terms of the offering will be provided in a future filing, as is typically the case with IPOs.
RBD Bearings Inc. files $144M IPO
RBC Bearings Inc. late Wednesday filed to raise up to $144 million in an initial public offering with underwriters Merrill Lynch, KeyBanc Capital Markets and Jefferies & Co.
The manufacturer of ball bearings did not specify a proposed ticker symbol or a stock exchange for its upcoming IPO.
View more information: https://www.marketwatch.com/story/webmd-files-ipo-for-services-unit