WebMD Health Corp - WebMD Corporation Announces Acquisition of HealthShare Technology Inc
Sep 3, 2015
Leading Provider of Hospital Quality Ratings Enhances WebMD Health Online Decision Tools
Elmwood Park, NJ (March 14, 2005) - WebMD Corporation (NASDAQ: HLTH) today announced the acquisition of HealthShare Technology, a leader in the healthcare decision support market and provider of web-based hospital quality comparison tools. The purchase price was $31 million in cash and up to an additional $5 million if certain financial milestones are achieved for the calendar year 2005. HealthShare provides health plans and employers, and their members and employees, with online decision support tools that evaluate both cost and quality to enable users to make more informed decisions about hospital care. HealthShare also provides professional decision support tools used by health plan executives to develop provider networks, identify centers of excellence, and evaluate comparative hospital quality. For hospitals, HealthShare tools are used to provide online decision support to help enhance quality of care, manage costs and profitability, and better understand market position. "HealthShare is the clear market leader helping health plan members and employees to make more informed hospital decisions. They work with seven of the top ten health plans and in total, HealthShare provides its services to more than 85 million members," said Roger Holstein, CEO WebMD Health. "The integration of HealthShare's cost and quality metrics into the WebMD platform furthers our mission of helping consumers make more informed benefit, provider and treatment decisions. "
WebMD Health, the Company's portal segment, provides healthcare information, decision support and interactive communication products to more than 20 million consumers and healthcare professionals each month through its public web sites. WebMD also provides online health and benefit management services for employer and payer sponsors through private web sites. These services assist members to make informed benefit, provider and treatment choices that optimize healthcare cost and quality. "We are delighted to become a part of WebMD Health, America's most trusted source of health information for consumers and professionals," said Rick Siegrist, CEO, HealthShare Technology. "As part of the WebMD family, we will be able to significantly extend the reach of our hospital quality comparison tools for health plans, employers, their members and employees. "
About WebMD Corporation
WebMD Corporation provides services that help physicians, consumers, providers and health plans navigate the complexity of the healthcare system. Our products and services streamline administrative and clinical processes, promote efficiency and reduce costs by facilitating information exchange, communication and electronic transactions between healthcare participants. WebMD Health is a leading provider of online information, educational services and communities for physicians and consumers. WebMD Practice Services is a leading provider of administrative, financial and clinical software and related services to the nation's medical practices. WebMD Business Services is a leader in payer and healthcare provider transaction processing and reimbursement cycle management services. All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: the amount and timing of the benefits expected from the transactions referred to in this press release; potential changes in WebMD's business relationships; future deployment of applications; and other potential sources of additional revenue. These statements are based on WebMD's current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: market acceptance of WebMD's products and services; operational difficulties relating to combining acquired companies and businesses; WebMD's ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and plastics industries, including matters relating to the manner and timing of implementation of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the healthcare industry's responses; and the ability of WebMD to attract and retain qualified personnel. Further information about these matters can be found in WebMD's Securities and Exchange Commission filings. WebMD expressly disclaims any intent or obligation to update these forward-looking statements. Contacts: