Henry Kravis is on a health kick.
The buyout kingpi▨n’s firm KKR has agreed to buy WebMD Health in a deal valued at about $2.8 billion, bringing a slew of popular online health in🍌formation websites under one umbrella.
Separately Monday, KKR said it will take a majority stake in♔ The Nature’s Bounty, a manufacturer of health and wellness pro▨ducts that’s reportedly worth around $3 billion. Carlyle, its private equity owner, is also to retain a “significant” stake.
KKR will pay $66.50 per share for WebMD, a premium of 20.5 percent to the company’s 𝄹Friday closing price. WebMD’s sh﷽ares were trading at $66 before the opening bell.
The WebMD deal comes five months after New York-based company said it would explore strategic options amid a slowdown in a💛dvertising paid for by pharmaceutical companies.
KKR will fold WebMD’s websites, including WebMD.com and Medscape.com, into its Internet Brands unit, which houses sites such as Den෴talPlans.com and ꧂AllAboutCounseling.com.
Founded in 1996, WebMD has grown into one of the most popular health websites for ꦆconsumers and medical professionals, attracting more than 70 million monthly unique visitors in 2016, according to analytics company comScore Inc.
WebMD’s Medscape, a medical news and educationꦺ website, accounted for about 60 percent of the company’s advertising revenue in 2016.
Internet Brands, which launched as CarsDirect.com in 1998, licenses and delivers its content and internet technology p🐈roducts and services to small and medium-sized businesses.
It was acquired by KKR in 20🌃14 for $1.1 bilꦓlion from two other private equity firms, Hellman & Friedman LLC and JMI Equity.
Reuters reported on Sunday that KKR wa🅷s nearing a deal to buy ♌the online health information provider.
The deal, approved by the WebMD board, is expected to close in the fourth quarter of 2🍬017.
WebMD also announced prelimi🌼nary second-quarter sales🌄 that were higher than the average analyst estimate.
J.P. Morgan Secu🐻rities LLC was WebMD’s financia🍸l adviser, while Shearman & Sterling LLP was its legal adviser. Simpson Thacher & Bartlett LLP was Internet Brands’ legal adviser.