Internet health care company Healtheon/WebMD Corp. (HLTH.O) agreed to acquire the Kinetra joint venture from Electronic Data Systems Corp.(EDS.N) and Indianapolis drugmaker Eli Lilly and Co.(LLY.N).

Kinetra processes over 50 million electronic clinical transactions per year for more than 200 health care organizations, the companies said. Healtheon has an Internet system that lets health care organizations exchange information and execute transactions, likes claims processing, referrals and data retrieval. Lilly also agreed to use Healtheon_s Internet content and services, the companies added. In addition, EDS and Healtheon formed an alliance, using Healtheon_s provider and consumer Internet offerings with EDS' health care solutions product, the companies said. Atlanta-based Healtheon said the value of the combined transactions, including the acquisition of Kinetra and the partnerships with EDS and Lilly, was about $300 million.