WebMD Terminates CEO, Sale Discussions (WBMD)
Web-based healthcare company WebMD Health Corp. (NASDAQ: WBMD) this morning announced that the company’s CEO has resigned and that the CFO would assume the role of interim CEO until a permanent replacement is found. The company also said that it…
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Web-based healthcare company WebMD Health Corp. (NASDAQ: WBMD) this morning announced that the company’s CEO has resigned and that the CFO would assume the role of interim CEO until a permanent replacement is found.
The company also said that it would terminate discussions a special committee of the board has been holding since late last year with possible acquirers, “The Special Committee has terminated these discussions with potential acquirers and its process to review a potential sale of the Company.”
WebMD also said it had a tough fourth quarter and was lowering its estimates for 2012:
WebMD’s preliminary outlook for 2012 is that revenue may be as much as 2% to 8% lower than 2011 revenue, with revenues declining more in the first half of the year and improving in the second half of the year.
In pre-market trading this morning, WebMD shares are down nearly -28% at $26.55 in a 52-week range of $25.56-$58.55.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
