WASHINGTON, July 24 (Xinhua) -- U.S. private equity giant KKR agreed to buy WebMD Health Corp in a deal valued at about 2.8 billion U.S. dollars, according to a statement by the company on Monday.
The KKR will pay 66.50 dollars per share, a premium of 20.5 percent to WebMD's Friday closing price. WebMD's price has been volatile since its IPO in 2005, and the KKR is paying just below the all-time high of 66.98 dollars in May 2016.
WebMD, an internet medical advice site, was founded in 1996 and is now used by 75 million consumers each month. If approved by the WebMD board, the deal is expected to close in the fourth quarter of 2017.
The deal is KKR's latest attempt to expand its investments in health-related firms.
Also on Monday, the private equity firm agreed to acquire a majority of stakes in nutritional supplements maker Nature's Bounty Co. The KKR's other healthcare investments include Air Medical Group Holdings and Arbor Pharmaceuticals LLC. Enditem
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