AMICAS, Inc. Confirms Receipt of Updated Acquisition Proposal From Merge Healthcare
Published: Feb 24, 2010
BOSTON, Feb. 24 /PRNewswire-FirstCall/ -- AMICAS, Inc. , a leader in image and information management solutions, today announced that it has received from Merge Healthcare Incorporated ("Merge") a proposal to acquire all of the outstanding shares of AMICAS for $6.05 per share in cash, which has been updated to include an executed definitive commitment letter for $200 million of financing from Morgan Stanley and confirmation that Merge will place a portion of the pre-funded proceeds received from its mezzanine investors into an escrow account directly accessible by AMICAS.
The AMICAS Board of Directors, in accordance with its fiduciary duties and the terms of the Thoma Bravo Merger Agreement, will evaluate the updated Merge proposal to determine the appropriate next steps. AMICAS will advise stockholders of the Board's recommendation in due course, and stockholders are advised to take no action at this time. There can be no assurance that a transaction with Merge will result.
About AMICAS, Inc.
AMICAS, Inc. (www.amicas.com) is a leading independent provider of imaging IT solutions. AMICAS offers the industry's most comprehensive suite of image and information management solutions -- from radiology PACS to cardiology PACS, from radiology information systems to cardiovascular information systems, from revenue cycle management solutions to enterprise content management tools designed to power the imaging component of the electronic medical record (EMR). AMICAS provides a complete, end-to-end solution for radiology practices, imaging centers, and ambulatory care facilities. Hospitals and integrated delivery networks are provided with a comprehensive image management solution for cardiology and radiology that supports EMR strategies to enhance clinical, operational, and administrative functions.
AMICAS and its directors and certain executive officers may be deemed to be participants in the solicitation of proxies from AMICAS shareholders in respect of the proposed transaction. Information about the directors and executive officers of AMICAS and their respective interests in AMICAS by security holdings or otherwise is set forth in its proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Investors may obtain additional information regarding the interest of the participants by reading the proxy statement regarding the acquisition when it becomes available. Each of these documents is, or will be, available for free at the SEC's Web site at www.sec.gov and at the AMICAS Investor Relations Web site at www.amicas.com/investorrelations.