WebMD Says it Is Not in Talks to Be Bought

WebMD Health Corp. Illustrations Ahead of Earnings Figures
The WebMD application and is displayed on an Apple Inc. iPhone 5s and iPad Air in this arranged photograph in Washington, D.C., U.S., on Friday, April 25, 2014. WebMD Health Corp. is expected to release earnings figures on April 30. Photographer: Andrew Harrer/Bloomberg via Getty Images
Photograph by Bloomberg via Getty Images

Health care portal WebMD (WBMD) said on Thursday that it was not negotiating a sale of all or part of its business, a day after the Financial Times reported about talks over a potential deal.

WebMD‘s shares were down about 9% in afternoon trading after the company’s statement, reversing from a near five-year high of $58.25 hit early in the session.

The company was said to be in talks with Walgreens Boots Alliance (WBA) and UnitedHealth Group (UNH) for the sale, the Financial Times reported, citing people familiar with the matter.

Early last year,WebMD collaborated with Walgreens on making available a wellness-coaching program on the Walgreens website, aimed at improving health and wellness.

The digital company might also choose to not push for a sale, after reviewing its options, the sources told the newspaper.

Shares of WebMD, which has a market value of about $2 billion, had gained 22% in 2015.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

COVID VaccinesReturn to WorkMental Health