19 Jan Merge Technologies to merge with software company
Milwaukee — Merge Technologies Incorporated and Cedara Software Corp. are about to merge in an all-stock transaction. Both companies develop health-care software, particularly digital medical imaging.
Pending stockholder and regulatory approval, the combined company will set up headquarters in Milwaukee. Merge CEO Richard Linden will stay on as CEO, and Cedara CEO Abe Schwartz will stay on the board of directors. Merge offered 0.587 shares of its stock per share of Cedara stock.
Merge Technologies, which goes under the name Merge eFilm, announced a plan to repurchase up to $10 million of its stock from shareholders last August. In November it bought AccuImage Diagnostic Corp., another radiology software firm, in a $6 million cash deal.