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Emdeon CEO stepping down because of illness(Record, The (Hackensack, NJ) (KRT)) Dec. 17--ELMWOOD PARK -- Health services company Emdeon announced Friday that it is seeking a replacement for its ailing chief executive. CEO Kevin Cameron said last month that he began undergoing medical treatments that take him out of the office several times a week, and warned at that time he might have to reduce his role at Emdeon. The company declined to disclose his illness. But it said Friday that a replacement for Cameron is expected to be found within three to four months. The company also said that its net income per share for the quarter ending Dec. 31 will be 1 to 2 cents higher than previously forecast, as a result of lower-than-expected employee compensation costs. The company now expects net income to be 6 to 7 cents per share. The company was formerly known as WebMD, but in August changed its name as it prepared a public offering for its medical information unit, which became a separate company and kept the name WebMD. Emdeon sells practice management software and insurance services to doctors. A former executive of WebMD, Michael Singer, was indicted Thursday in connection with an alleged conspiracy to inflate earnings at a company acquired by WebMD. That company, Medical Manager, was created by Singer and acquired by WebMD in 2000. It sells software that helps doctors manage billing and health records. Along with Singer, nine former executives of Medical Manager were also indicted. Singer resigned from WebMD in February. Shares of Emdeon rose 11 cents, or 1.4 percent, Friday to close at $8.03. [ Back To TMCnet.com's Homepage ] |