July 28, 2017
WebMD is one of the biggest sites dedicated with information related to healthcare. It was announced today that WebMD will be taken over by Internet Brands. Internet Brands on the other hand is a company controlled by KKR which also owns other verticals in healthcare, legal, home, automotive, travel and more for B2B and B2C. Sources have confirmed that KKR has bought WebMD for $2.8 billion.
WebMD was founded as early as 1996 and is branded as one of the earliest verticals dedicated towards healthcare content and information. Moreover, the company has been ranked at 36th position in comScore’s top 50 websites in US with over 71.7 million unique visitors a single month. WebMD went public in 2005.
“We believe that this transaction will provide additional flexibility and resources to deliver increased value to consumers, healthcare professionals, employers and health plan participants. On behalf f everyone at WebMD, I would like to express our sincere appreciation to our employees for their hard work and dedication. I am confident that this will be an exciting new chapter for WebMD” said Steven L. Zatz, CEO of WebMD.
On the other hand, Internet Brands has been aggregating traffic across a wide range of websites. But it’s not just that. It has been providing a large range of services to help health businesses find more customers and also consumers to find healthcare they’re looking for. There were reportedly around 100 different bids for WebMD. But finally, KKR’s Internet Brands secured it.
Speaking of this, the Chairman of Internet Brands and KKR Team member, Herald Chen said, “KKR and Internet Brands are pleased to be investing behind the experienced WebMD management team and trusted WebMD platforms. The combined portfolio of leading vertical internet assets will be a powerful one. We look forward to supporting and accelerating the growth and global expansion of the business.”