ELMWOOD PARK - Shares of Emdeon Corp. fell almost 8 percent Friday after the health services company predicted tepid earnings and revenue for 2006.

The company said its earnings would fall at the low end of a forecast released earlier this month, when it predicted 2006 earnings of 58 cents to 66 cents a share on revenues of $1.36 billion to $1.41 billion.

The company, formerly known as WebMD, also announced that its president, Tony G. Holcombe, is resigning to pursue other opportunities. Holcombe, who joined the company two years ago, also serves as president of business services. That unit will now report to CEO Kevin Cameron.

"In the future it may become necessary for me to spend more time addressing my health needs, and I may have to contribute to the company in a different senior executive role, which would not require the active day-to-day oversight of operations," Cameron said in a statement. He did not disclose his illness.

The company also said Friday that it plans to buy back up to 60 million shares, or 17.4 percent of outstanding shares, for up to $8.20 a share. Shares closed Friday at $7.73, down 64 cents.

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