Note last line. From Raging Bull board
ROBERTSON STEPHENS -- The Web Report
Volume 3, Issue #15 - Friday, April 14, 2000
AN INJECTION INTO HEALTHEON/WEBMD
In a clear vote of confidence, Jim Clark, co-founder of Healtheon/WebMD (HLTH $22-11/16), and John Doerr, a director of the company since 1997 and general partner of Kleiner Perkins Caufield & Byers, have received permission to purchase up to $220 million of HLTH stock. The two directors were granted an exception to trading window restrictions to take advantage of what they view as a depressed stock price. We spoke to management and were assured that these funds will not be borrowed from Healtheon/WebMD. Clark currently owns 11.7 million shares of Healtheon/WebMD and intends to purchase up to $200 million, and Doerr's venture capital firm, which owns 8.1 million shares, intends to purchase up to $20 million worth of stock.
The company announced that it expects to exceed the Street?s current revenue forecast of $62 million for the first quarter of 2000 and will report a loss before noncash charges of less than $90 million. The company expects to release the proxy statement on the merger with Medical Manager (MMGR, $34-25/32) and CareInsite (CARI, $26-37-64) in less than 30 days. |
