The unit that runs WebMD's health Web site on Thursday announced that it was filing for an initial public offering of stock worth up to $50 million, the San Jose Mercury News reports.
The unit, WebMD Health Holdings, will have two types of stock: Class A, to be offered in the IPO, and Class B, which WebMD will own, the Mercury News reports. The unit will list its Class A stock on the Nasdaq Stock Market under the symbol "WBMD."
WebMD officials last year announced they would spin off the health unit, which runs sites that feature medical information to consumers and clinicians, Health Data Management reports. The company's other units include transactions processing and business process outsourcing services, software for physicians and plastic products. Those businesses will operate under a new name (Health Data Management, 5/12).
WebMD Health Holdings last year had net income of $6.5 million on revenue of $134.1 million (San Jose Mercury News, 5/12).