AMICAS Agrees to Merge Acquisition Offer for $248 Million

 

March 5, 2010

March 5, 2010 - After wavering between an initial offer from Thoma Bravo, LLC for $5.35 per share, and an offer from Merge Healthcare Inc. for $6.05 per share, AMICAS today announced it will enter into a definitive merger agreement (the “Merge Acquisition Agreement”) pursuant to which Merge will acquire all of the outstanding shares of AMICAS for $6.05 per share in cash, or an aggregate of $248 million.

On Wednesday, February 24, AMICAS rejected Merge's offer of $6.05 per share and urged shareholders to support a rival offer of $5.35 per share, or $217 million, from Thoma Bravo, which AMICAS ahd agreed to the Thoma Bravo offer Dec. 24. But on Monday AMICAS said it considered the Merge offer superior.

The Board of Directors of AMICAS has unanimously voted to terminate AMICAS’ previously announced agreement with an affiliate of Thoma Bravo, LLC and to enter into the Merge Acquisition Agreement. Merge’s $6.05 per share cash purchase price represents a premium of approximately 13 percent over the $5.35 per share price contemplated by the prior agreement.

Together, AMICAS and Merge aim to become a leading global healthcare IT provider. The combined company’s solution portfolio will range from automation solutions for cardiology and radiology providers to enterprise content management solutions for IDN’s to OEM solutions for health IT applications to trial, site and patient management solutions for pharmaceutical, biotechnology, medical device and contract research organizations.

For more information: www.merge.com