ELMWOOD PARK, N.J. (AP) ¿ HLTH Corp., which has a majority stake in health Web site WebMD.com, said Friday it agreed to sell its Porex unit, which makes plastic products, to a group led by a Los Angeles-based private equity firm for $142 million.
HLTH will get $74.5 million in cash at the closing and another $67.5 million over four years from a group led by the firm Aurora Capital Group.
The deal is expected to close in the fourth quarter.
Porex develops, makes and distributes porous plastic products and components used by health care, industrial and consumer applications.(This version CORRECTS to $142M to include seller-financed loan to buyer as part of what HLTH is getting for the Porex business)