KKR has announced its portfolio company, Internet Brands, will acquire WebMD Health Corp. The transaction is valued at approximately $2.8 billion.

Kohlberg Kravis Roberts (KKR) & Co., based in New York, considers investments in all industries, including healthcare. The firm is publicly traded under the ticker symbol KKR. It prefers to invest in a range of debt and public equity investing and may co-invest, seeking a controlling ownership of a company or a strategic minority positions.

WebMD Health Corp., based in New York, is a provider of health information services. The WebMD Health Network includes WebMD.com, Medscape.com, MedicineNet.com and other sites and apps. The firm is publicly traded under the ticker symbol WBMD.

Internet Brands, based in El Segundo, Calif., is an online media and software services organization focused on health and other industries. The firm is a portfolio company of KKR and Temasek.

The acquisition is expected to close during the fourth quarter of 2017.