VitalWorks, WebMD settle, ink agreement

Practice management software and healthcare information technology company (HIT) VitalWorks has settled pending litigation with Elmwood Park, NJ-based WebMD. The Ridgefield, CT-based HIT firm has also signed a three-year deal to offer WebMD’s transaction processing and patient statement services to its customers.

The litigation, which included claims relating to prior contractual arrangements, was resolved without admission of liability by either company. Under terms of the settlement, WebMD will pay VitalWorks approximately $2.5 million and VitalWorks will turn over certificates for 1.9 million shares of its common stock to WebMD.

VitalWorks stock (Nasdaq, VWKS) opened at $2.94 this morning, WebMD (Nasdaq HLTH) at $5.80.

By staff writers
July 20, 2001

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