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Stock Market & Financial Investment News

News Breaks
November 8, 2012
19:14 EDTMRGEMerge Healthcare eyed by PE firms, Reuters says
Merge Healthcare (MRGE), which announced in September that it was exploring strategic alternatives, is said be attracting interest from at least five private equity firms, according to a Reuters report that cites people familiar with the matter. Two of the people Reuters spoke to for the report said Merge hopes to have offers by Friday. Reference Link
News For MRGE From The Last 14 Days
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February 26, 2015
11:11 EDTMRGEMerge Healthcare falls after revenue misses, acquisition made
Shares of Merge Healthcare (MRGE) are falling this morning after the company reported its fourth quarter results last night and also disclosed its deal to acquire a privately-held medical imaging information systems company. WHAT'S NEW: Last night, Merge reported Q4 pro forma revenue of $53.7M, which was below the $56.4M consensus expectation, and adjusted earnings per share of 5c, which was a penny above the 4c consensus forecast. The company also announced the recent acquisition of DR Systems for $70M. The transaction is expected to be accretive to Merge's non-GAAP adjusted EPS in 2015 and future years, the company said. ANALYST OPINION: IN a note to investors after the quarterly report, William Blair said it was disappointed that Merge did not provide 2015 guidance or end-of-year backlog results. The firm believes the larger footprint from the DR Systems deal will benefit the company’s cloud strategy and that DR's highly-ranked products should increase mindshare, but noted that it awaits commentary on the company’s organic growth outlook to fully evaluate the deal. The firm has a Market Perform rating on Merge Healthcare shares. PRICE ACTION: In morning trading, shares of Merge Healthcare are down 65c, or 14.4%, to $3.85.
February 25, 2015
18:11 EDTMRGEMerge Healthcare acquires DR Systems
Merge Healthcare acquired DR Systems, a privately held San Diego-based medical imaging information systems company. DR Systems founder, chairman, and CEO Murray Reicher, M.D., will assume the role of Chief Medical Officer of Merge Healthcare. Dr. Following the acquisition, support for DR Systems' core platform will remain in place. The transaction is expected to be accretive to Merge's adjusted EPS in 2015 and future years. Merge Healthcare financed the acquisition through a combination of approximately $20M of cash on hand and $50M of cash raised from the sale of shares of newly issued convertible preferred stock, at a $4.14 per share common equivalent calculated based on Merge's 30-day volume weighted average common stock price, to a group of investors arranged by Guggenheim Corporate Funding, the agent under Merge's existing credit facility.

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