WebMD is hiving off its online health info websites (WebMD (NSDQ: WBMD) Health) into a separate company, and taking it public. It has filed for an IPO that could be worth about $50 million, according to the SEC filings…

The health websites had a net income of $6.5 million on revenue of $134.1 million last year…

Proceeds from the IPO will be used for working capital and general corporate purposes, including capital expenditures and acquisitions, WebMD Health said. WebMD Health said it intends to change its name before the IPO. The new name that hasn’t been chosen, but will include “WebMD.” The parent company might change its name into something else, though that hasn’t yet been decided…

The parent company will have all the services companies it has acquired over the last few years, including MedScape, Envoy and other physician-related serviced.

With this move, the consolidation in the online consumer health space is happening fast and furious:

-- Former Washington Post (NYSE: WPO) online head Christopher Schroeder took over as CEO of Choice Media, a network of online consumer health sites, with Polaris Ventures taking a majority stake in the company.

-- iVillage recently bought out HealthCentersOnline and Healthology

-- Former AOL (NYSE: TWX) head Steve Case has recently launched a new venture/private equity firm focused on consumer healthcare and wellness area and is targeting, among others, online health sites…

-- And other remaining online consumer health sites are up for grabs: I’ve heard through a reliable source that online health and wellness media company Better Life Media is being looked at by various companies, some of them I’ve mentioned above…