radRounds Radiology Network

Connecting Radiology | Enabling collaboration and professional development

Merge Healthcare Completes Acquisition of AMICAS

Merge Healthcare Completes Acquisition of AMICAS

Combined company creates global, independent leader in medical imaging software and healthcare IT solutions

MILWAUKEE & BOSTON--(BUSINESS WIRE)-- Today’s successful close of the merger agreement between Merge Healthcare Incorporated (NASDAQ: MRGE) and AMICAS, Inc. (formerly NASDAQ: AMCS) creates a leading medical imaging software and healthcare IT solutions provider with strong customer relationships, innovative solutions, significant cross selling capabilities, and a solid international presence. With a combined customer base of approximately 1500 hospital and 2200 outpatient sites in the U.S. alone, a complementary product suite, and distribution agreements in over 35 countries, Merge is well positioned to capitalize on the expected growth in the global medical imaging and healthcare IT markets.

“Merge and AMICAS each has a rich history of delivering innovative solutions for the medical imaging and healthcare IT markets,” notes Justin Dearborn, Merge CEO. “Despite some overlap in the outpatient imaging market, our solution sets are highly complementary. As a combined business, we will have excellent coverage for imaging and healthcare IT solutions across the continuum of care – from outpatient imaging sites to radiology, cardiology, and enterprise solutions serving the hospital market.”

For outpatient imaging businesses, the newly combined company will offer proven solutions for revenue cycle management, radiology information systems, referring physician connectivity solutions, radiology PACS and CAD solutions. For hospitals, Merge will offer robust interoperability and healthcare IT solutions, as well comprehensive departmental solutions for cardiology, radiology, and perioperative departments. Additionally, Merge will deliver the entire solution set internationally, through established global channels. In 2009 alone, Merge signed distribution contracts in 24 countries.

“Healthcare providers are facing reimbursement challenges, stimulus funding requirements, interoperability issues, and the need to improve effectiveness and efficiency of their clinicians,” said Mr. Dearborn, “and they want cost effective applications that will solve these challenges. Merge and AMICAS each has decades of experience with a core focus on medical imaging and healthcare IT software development, and the resulting long term customer partnerships. Together, we can more efficiently bring the right solutions to meet the demands of the market.”

This transaction completes the definitive merger agreement between Merge and AMICAS dated as of February 28, 2010, under which a subsidiary of Merge acquired all of the outstanding shares of AMICAS common stock for $6.05 per share. To finance the transaction, Merge successfully placed $200 million senior secured notes due 2015, and completed a private placement of preferred and common stock of $41.75 million. In conjunction with the completion of the transaction, the stock of AMICAS has ceased trading on the NASDAQ Stock Market.

Views: 59

Comment

You need to be a member of radRounds Radiology Network to add comments!

Join radRounds Radiology Network

Sponsor Ad

© 2019   Created by radRounds Radiology Network.   Powered by

Badges  |  Report an Issue  |  Terms of Service