Private equity firm to buy WebMD for $2.8B

The private equity firm KKR & Co. will purchase WebMD Health Corp. for $2.8 billion, Reuters reports.

Under the deal, KKR will pay WebMD shareholders $66.50 per share.

The firm will also bring WebMD's health information websites — including and — into its internet brands unit. The unit also houses health information websites like and

The acquisition comes five months after WebMD said it was experiencing a decrease in pharmaceutical company advertising, according to Reuters. As of 2016, WebMD's medical news publication Medscape accounted for 60 percent of its advertising revenue.

The deal is expected to close in the fourth quarter of 2017.

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