Key Developments For WebMD Health Corp.
WebMD Health Corp. (WBMD.O) (Nasdaq)
WebMD Health Corp. Announces Commencement of Tender Offer To Repurchase Up To 5,700,000 Shares of Its Common Stock At Price of $37.00 Per Share
WebMD Health Corp. announced that it has commenced its tender offer to purchase up to 5,700,000 shares of its common stock at a price per share of $37.00. The number of shares proposed to be purchased in the tender offer represents approximately 10% of WebMD's currently outstanding shares. The tender offer will expire at 5:00 p.m., New York City time, on December 10, 2009, unless extended by WebMD. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. On the terms and subject to the conditions of the tender offer, WebMD's stockholders will have the opportunity to tender some or all of their shares at a price of $37.00 per share. If stockholders properly tender and do not properly withdraw more than 5,700,000 shares, WebMD will purchase shares tendered by those stockholders owning fewer than 100 shares, without pro ration, and all other shares tendered will be purchased on a pro rata basis, subject to the conditional tender offer provisions described in the offer to Purchase that is being distributed to stockholders. Stockholders whose shares are purchased in the tender offer will be paid $37.00 per share, net in cash, less any applicable withholding taxes and without interest, promptly after the expiration of the tender offer period. WebMD will use a portion of its cash and cash equivalents to fund the tender offer.
WebMD Health Corp. Announces Intention To Commence Tender Offer To Repurchase Up To 5,700,000 Shares of its Common Stock
WebMD Health Corp. announced that it intends to commence a tender offer next week to purchase up to 5,700,000 shares of its common stock at a price per share of $36.00. The number of shares proposed to be purchased in the tender offer represents approximately 10% of WebMD's currently outstanding common shares.
WebMD Health Corp. Raises Low End Of Prior FY 2009 Revenue Outlook To A Range Above Analysts' Estimates; Lowers FY 2009 Earnings Outlook; Issues Q4 2009 Mixed Outlook
WebMD Health Corp. revised its fiscal 2009 outlook and expects total revenue to be approximately $430-$440 million, adjusted EBITDA to be approximately $106-$111 million and income from continuing operations to be approximately $11-$14 million, or $0.22-$0.27 per share. For fourth quarter of 2009, it expects revenue in the range of $129.5-$139.5 million, EBITDA of $40.0-$45.0 million, loss from continuing operations in the range of $7.4-$10.1 million and earnings per share (EPS) of $0.13-$0.18. According to Reuters Estimates, analysts were expecting the Company to report revenues of $428 million, EBITDA of $111 million, net profit of $38 million and EPS of $0.65 for fiscal 2009 and revenues of $127.9 million, EBITDA of $41.9 million, net profit of $16.8 million and EPS of $0.28 for fourth quarter of 2009.
WebMD Health Corp. Appoints Chief Financial Officer
WebMD Health Corp. announced that Anthony Vuolo, its Chief Operating Officer, has been appointed to the additional position of Chief Financial Officer. Mr. Vuolo previously served as WebMD Health Corp.'s Chief Financial Officer from its initial public offering in 2005 until becoming Chief Operating Officer in 2007. Mr. Vuolo is replacing Mark D. Funston, who is leaving the Company to pursue other opportunities.
FDA And WebMD Health Corp. Expands Consumer Health Information Partnership
The U.S. Food and Drug Administration and WebMD Health Corp. announced an expansion of their partnership to provide increased access to FDA's consumer health information. The Company is personalizing FDA health information for consumers with five new online FDA sections that will initially focus on allergies and asthma, children's health, diabetes, heart health and vitamins and supplements.
