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NEWS RELEASE:
FOR IMMEDIATE RELEASE:
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Beth Frost-Johnson, Sr. VP of Marketing
Merge Healthcare
414.977.4254
bethfj@merge.com
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Kenneth D. Rardin
President and CEO
Merge Healthcare
414.977.4000
ir@merge.com
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MERGE HEALTHCARE ANNOUNCES BRANDING CHANGE FOR BUSINESS UNITS
New corporate names will help solidify global market positioning
Milwaukee, WI, March 1, 2007 – Merge Healthcare (NASDAQ: MRGE; TSX: MRG), a leading medical imaging software and services provider, today announced that the name of its North American direct business unit will be changed from Merge eMed to Merge Healthcare North America. Merge Healthcare's three business units are:
- Merge Healthcare North America , providing RIS, PACS and Clinical Applications and related services to hospitals, imaging centers and specialty clinics in North America
- Merge Healthcare EMEA , providing RIS, PACS, Clinical Applications and Electronic Patient Records in Europe, the Middle East and Africa
- Cedara Software , developers of innovative medical imaging software and custom-engineered solutions for the global OEM market
"The name ‘Merge Healthcare’ signifies finality of the merger between the North American businesses of Merge eFilm and eMed Technologies that took place in 2005," says Kenneth Rardin, Merge Healthcare CEO. "More importantly, this move will help us to solidify our leadership position within the industry, to capitalize on our growing international presence, and to minimize market confusion that often occurs when multiple entities come together via merger or acquisition."
"The shift follows a significant reorganization initiative that has unfolded over the past few months to better align our cost and revenue structures, reduce operational redundancies across the organization, and optimize synergies and economies of scale from the 2005 merger," Rardin states.
With strong market recognition and a solid and growing base of satisfied customers, Cedara Software’s name remains unchanged, Rardin explains. "Our Cedara unit is shifting end-user-focused business to its Merge Healthcare counterparts, and will now focus exclusively on providing technology and custom engineering to global imaging hardware and software vendors," he says.
"Merge Healthcare will continue as a leader in the medical imaging and information management industry by leveraging depth of product innovation, quality and speed of distribution, and high levels of satisfaction among a broad customer base," states Rardin. "Our organization has evolved over time from a single-product technology company to a global provider of end-to-end imaging solutions designed to meet the business and clinical needs of the OEM and end-user markets. The Merge Healthcare name reinforces more than 20 years of leadership in imaging solutions and builds on the cumulative successes of multiple individual entities – with a whole that is greater than the sum of its parts."
Concludes Rardin, "We are leveraging our brand equity while establishing clear messages that build upon the strengths of our merged organizations, thus delivering value to our stakeholders – employees, customers and shareholders."
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Merge Healthcare is a market leader in the development and delivery of medical imaging and information management software and services. Our innovative software solutions use leading-edge imaging software technologies that accelerate market delivery for our OEM customers, while our end-user solutions improve our customers' productivity and enhance the quality of patient care they provide. For additional information, visit our website at www.mergehealthcare.com.
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Attn: Beth Frost-Johnson
Merge Healthcare
6737 West Washington St.
Suite 2250
Milwaukee, WI 53214
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| Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words “will,” “believes,” “intends,” “anticipates,” “expects” and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, the uncertainty created by, the adverse impact on relationships with customers, potential customers, suppliers and investors potentially resulting from, and other risks associated with, the changes in the Company’s senior management; costs, risks and effects of the investigation by the Audit Committee of the Board of Directors; the impact of the restatement of financial statements of the Company and other actions that may be taken or required as a result of such restatement; the Company's inability to timely file reports with the Securities and Exchange Commission; risks associated with the Company's inability to meet the requirements of The NASDAQ Stock Market for continued listing, including possible delisting; costs, risks and effects of legal proceedings and investigations, including the informal, non-public inquiry being conducted by the Securities and Exchange Commission and class action, derivative, and other lawsuits; risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, ability to integrate acquisitions, changing economic conditions, credit and payment risks associated with end-user sales, dependence on major customers, dependence on key personnel, and other risk factors detailed in the Company’s filings with the Securities and Exchange Commission. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
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