IPO Would Value Healtheon at $430.1 Million

Healtheon Corp., which is building an Internet-based system for processing health-care transactions, said its planned initial public offering would value the company at $430.1 million. The Santa Clara-based company will sell about 6.5 million common shares for between $6 and $8 each, according to its IPO amendment filed with the Securities and Exchange Commission. Healtheon had not yet publicized the number or price of shares it would offer new investors. At $7 a share, Healtheon’s 61.4 million shares outstanding after the IPO would be worth $430.1 million. According to its filing, Healtheon is building a World Wide Web-based network that would let health-care providers and insurers trade information on patients, such as enrollment and eligibility verification, referrals, procedure authorization, test ordering, data retrieval and claims processing. James Clark, Healtheon’s chairman and co-founder, is also a co-founder and chairman of Netscape Communications Corp.