Manufacturing Industry
WebMD nixes Porex spinoff.(Brief Article)(Statistical Data Included)
Plastics News, July, 2002 by Toloken, Steve
Citing poor market conditions, medical software firm WebMD Corp. has decided not to spin off Porex Holdings Inc., its plastics processing unit. WebMD announced July 17 that, for now at least, it would keep Fairburn, Ga. -based Porex inside the company. But WebMD said it would continue to look at other ways of disposing of Porex, including through an initial public offering.
WebMD declined to comment beyond the announcement. WebMD sells software and Internet services to the health-care industry, and acquired Porex in 2000 when it bought Medical Manager Corp., a firm that had been developing its own medical electronic commerce business and also investing in plastics processing firms. WebMD has been trying since then, without success, to sell or dispose of...
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