(RTTNews) - Friday, provider of health information services WebMD Health Corp. (WBMD: News ), said it completed the previously disclosed merger with Elmwood Park, New Jersey-based HLTH Corp. (HLTH: News ), in an all stock deal, with WebMD being the surviving company.

The New-York based company noted that as per the terms of the deal, which was approved by the stockholders of both companies earlier today, the shares of WebMD Class B shares owned by HLTH were retired and each outstanding share of HLTH common stock was converted into 0.4444 shares of WebMD common stock.

WebMD indicated that its Class A common stock were unchanged in the merger and will continue to trade on the Nasdaq Global Select Market under the symbol "WBMD", but will no longer be referred to as "Class A" as the merger eliminated the Class B shares held by HLTH and WebMD's existing dual-class stock structure.

Earlier in February 2008, HLTH agreed to merge with WebMD in a cash and stock deal worth $2.3 billion, but in October 2008, the deal was terminated because of the financial market turmoil.
Martin Wygod will serve as Chairman of the Board and Wayne Gattinella will serve as President and Chief Executive Officer of the combined entity.

For the deal, Morgan Joseph & Co. Inc. served as financial advisor, and Cahill Gordon & Reindel LLP served as legal counsel to WebMD. Raymond James and Associates, Inc. served as financial advisor, while Shearman & Sterling LLP served as legal counsel to HLTH.

WBMD closed Friday's regular trading at $34.28, up $0.29 or 0.85%, on a volume of 64,399 shares, while HLTH closed at $15.23, up $0.20 or 1.33%, on a volume of 0.57 million shares on the Nasdaq.

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by RTT Staff Writer

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