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Healtheon to buy Metis for stock

The company founded by Silicon Valley entrepreneur Jim Clark is buying Metis in a stock swap--its second acquisition since February.

Healtheon, founded by Silicon Valley entrepreneur Jim Clark, said today it would buy Metis in a stock swap--its second acquisition since February.

Like Healtheon, privately held Metis develops Internet applications for the health care industry. Terms of the deal were not disclosed.

Today's buyout comes on the heels of Healtheon's acquisition of ActaMed for $150 million in stock. Healtheon has an eye toward going public next year.

"With Metis' leadership in integrated delivery networks and our recent merger with ActaMed, Healtheon has accelerated the process of bringing disparate healthcare networks and transactions together," Clark said in a statement.

The deal is subject to shareholder and regulatory approval.

Healtheon's backers include Kleiner Perkins Caufield & Byers. Last July, the company bolstered its management team, naming Mike Long CEO. Previously, Long had been CEO of CSC-Continuum.