1 Min Read
(Reuters) - Healthcare portal WebMD Health Corp said on Thursday it was not negotiating a sale of all or part of its business, a day after the Financial Times reported about talks over a potential deal.
WebMD's shares were down 6.8 percent at $49.53 in late morning trading after the company's statement, reversing from a near five-year high of $58.25 hit early in the session.
The company was said to be in talks with Walgreens Boots Alliance Inc and UnitedHealth Group Inc for the sale, the Financial Times reported, citing people familiar with the matter.
Early last year, the company collaborated with Walgreens on making available a wellness-coaching program on the Walgreens website, aimed at improving health and wellness.
The digital company might also choose to not push for a sale, after reviewing its options, the sources told the newspaper.
Shares of the company, which has a market value of about $2 billion, had gained 22 percent in 2015.
Reporting by Sneha Teresa Johny and Rosmi Shaji in Bengaluru; Editing by Sunil Nair and Sriraj Kalluvila