WebMD Health Corp., NY, agreed to acquire Subimo, Chicago, for $60 million to expand its presence in the fast-growing market for consumer-driven healthcare. Subimo provides insurers and employers with customized online tools that allow members to compare healthcare cost and information.
The privately held company recorded pretax income of $790,000 on revenue of $4.1 million for the six months ended June 30. Publicly traded WebMD, a unit of Emdeon Corp., provides online health information services to consumers, providers and payers. It earned $7.7 million last year on revenue of $168.9 million.
“As healthcare consumerism continues to grow, WebMD is committed to partnering with health plans, employers and financial institutions in order to enable consumers to make more informed choices and plan for future healthcare costs,” WebMD Chief Executive Officer Wayne Gattinella said in a news release. “The acquisition of Subimo … will allow us to better serve these key markets.”
The deal is expected to close by year-end.