Drkoop.com, Inc. (Nasdaq: KOOP) fell 7/32 to 1 5/32 Monday following reports that MillenniumHealth Communications, Inc. dropped its proposal to acquire the troubled e-health company after merger discussions failed.
Drkoop, which is looking for a buyer or investor, has another potential suitor — Undertherapy.com has offered to buy the company for an undisclosed amount of cash and stock. While Drkoop.com said it will remain true to its “fiduciary duties,” the company also said it rejected two previous offers from Undertherapy, and is considering other ways to raise cash.
Drkoop.com, the online health company created by former U.S. Surgeon General C. Everett Koop, has been looking for financing since April. Its shares are trading near an all-time low.