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Healtheon Announces Initial Public Offering

SANTA CLARA, CA, February 11, 1999 - Healtheon Corporation (Nasdaq: HLTH) today announced the successful completion of the initial public offering of 5 million shares of Common Stock at a price of $8 per share. All shares were sold by the company.

The managing underwriters of the offering were Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co., Hambrecht & Quist LLC, and Volpe Brown Whelan & Company, LLC.

Healtheon is applying advanced Internet technology to enable healthcare providers and consumers to interact with each other and the institutions of healthcare to securely communicate, exchange information, and perform complex transactions. Healtheon's services simplify the business and clinical processes of healthcare, decrease costs and improve the quality of patient care.

A copy of the prospectus relating to this offering may be obtained from the offices of Morgan Stanley & Co. Incorporated at 1585 Broadway, New York, NY 10036, 212-761-4000; Goldman, Sachs & Co. at 85 Broad Street, New York, NY 10004, 212-902-1000; Hambrecht & Quist LLC at One Bush Street, San Francisco, CA 94104, 415-439-3000, or Volpe Brown Whelan & Company, LLC at One Maritime Plaza, 5th floor, Attention: Prospectus Department, San Francisco, CA 94111, 415-274-4400.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Healtheon is a trademark of Healtheon Corporation. All rights reserved.

CONTACT:

WebMD
Jennifer Meyer
jmeyer@webmd.net
646/521-9212

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