Shearman & Sterling is representing HLTH Corporation in connection with its merger with WebMD Health Corp., a publicly-traded, majority-owned subsidiary of HLTH. Pursuant to the terms of the Merger Agreement, HLTH will merge with and into WebMD, with WebMD continuing as the surviving corporation. Consummation of the transaction, which is expected to occur by the end of the year, is subject to customary conditions, including stockholder approval of each of HLTH and WebMD. The transaction is valued at approximately $1.3 billion.

In addition to being the parent company of WebMD, HLTH also owns Porex, a developer manufacturer and distributor of proprietary porous plastic products and components used in healthcare, industrial and consumer applications. HLTH’s common stock is currently traded on NASDAQ.

WebMD is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals and health-focused publications. WebMD’s Class A common stock is currently traded on NASDAQ.

The Shearman & Sterling team was led by partners Creighton Condon (London/New York-Mergers & Acquisitions) and Robert Katz (New York-Mergers & Acquisitions) and associates Michael Pellegrino (New York-Mergers & Acquisitions) and Amelia Kalil (New York-Mergers & Acquisitions). Other attorneys involved included partners Alan Goudiss (New York-Litigation), and Don Lonczak (Washington, DC-Tax) and associates Kenneth Hemler (New York-Executive Compensation & Employee Benefits) and Ethan Harris (Washington, DC-Tax).

For more information, please contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |