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WebMD buys Medscape portal assets

Published on .

Elmwood Park, N.J.--Signaling it may be on the rebound, WebMD Inc. bought the portal assets of Hillsboro, Ore.-based MedicaLogic/Medscape Inc. Financial amounts were not disclosed. The assets include Medscape's doctor and consumer portals. Last August, WebMD announced that its second-quarter loss was $821.8 million, versus $518.3 million in the year-earlier period. The appointment last April of Martin Wygod as chairman--he had previously been CEO, a title he retained--was cheered by Wall Street. Wygod replaced W. Michael Long, who resigned.
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