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Merge eFilm Shareholders Approve Merger With Cedara
MILWAUKEE, May 24 /PRNewswire-FirstCall/ -- Merge Technologies Incorporated
(NASDAQ:MRGE), d.b.a. Merge eFilm, a leading global healthcare software and
services company, today announced that shareholders overwhelmingly approved its
merger with Cedara Software Corp., (Nasdaq: CDSW; TSX: CDE), a leading
independent developer of medical software technologies for the global
healthcare market, at a special shareholder meeting held today in Milwaukee,
WI. The merger is expected to close June 1, 2005, following court approval in
Canada.
Upon completion of the transaction, the combined company will provide the
diagnostic OEM and end user markets with an industry leading image and
information management solution for managing clinical and business workflow.
The combined company will have an extensive imaging product suite to meet the
current and emerging needs of OEM and end user customers in radiology and
multiple clinical specialties. The international presence, strong product and
distribution market coverage and financial strength of the combined company
will allow it to capitalize on the continued digitization of the healthcare
industry. The expanded opportunities provided by this transaction will play an
important role in continuing Merge eFilm's track record as one of the fastest
growing healthcare information technology companies in the market.
About Merge eFilm
Merge eFilm is a global healthcare software and services company focused on
accelerating the productivity of imaging centers, small- to medium-sized
hospitals and clinics with a suite of RIS/PACS products that more efficiently
streamline, integrate and distribute image and information workflow across the
healthcare enterprise. Since 1987, Merge eFilm has leveraged its healthcare
integration and connectivity experience to create workflow solutions that
improve our customers' productivity and enhance the quality of care they
provide. For more information about Merge eFilm's products and services, visit
our website at http://www.merge-efilm.com/ , or call Beth Frost-Johnson, Senior
Vice President-Marketing and Strategic Planning, at 414-977-4254, email .
About Cedara Software Corp.
Cedara Software Corp. is a leading independent provider of medical imaging
technologies. Cedara's software is deployed in hospitals and clinics worldwide
and is licensed by many of the world's leading medical device and healthcare
information technology companies. Approximately 28,000 medical imaging systems
and 6,400 Picture Archiving and Communications System (PACS) workstations have
been licensed to date. Cedara recently acquired eMed Technologies Corporation,
widely known as a provider of innovative PACS and teleradiology solutions that
have been installed in over 2,000 hospitals and imaging centers. Cedara is
quite unique in that it has technologies and expertise that span all the major
digital imaging modalities including computed tomography (CT), magnetic
resonance imaging (MRI), digital X-ray, mammography, ultrasound,
echo-cardiology, angiography, nuclear medicine, positron emission tomography
(PET) and fluoroscopy. Furthermore, the Company's medical imaging offerings are
used in all aspects of clinical workflow including the capture of a patient's
digital image; the archiving, communication and manipulation of digital images;
sophisticated clinical applications to analyze digital images; and even the use
of imaging in minimally-invasive surgery. For more information about Cedara's
products and services, visit our website at http://www.cedara.com/ .
Notice to Investors, Prospective Investors and the Investment Community
Cautionary Information Regarding Forward-Looking Statements
Statements in this press release regarding the proposed merger of Merge
Technologies, (d.b.a. Merge eFilm) and Cedara Software Corp. which are not
historical facts, including expectations of financial results for the combined
companies (e.g., projections regarding revenue, earnings, cash flow, cost
savings and future growth), are "forward-looking statements." All forward-
looking statements are inherently uncertain as they are based on various
expectations and assumptions concerning future events and they are subject to
numerous known and unknown risks and uncertainties which could cause actual
events or results to differ materially from those projected. Investors are
cautioned not to place undue reliance on these forward-looking statements and
any such forward-looking statements are qualified in their entirety by
reference to the following cautionary statements. Merge eFilm and Cedara
undertake no obligation to publicly release the result of any revisions to
these forward-looking statements that may be made to reflect any future events
or circumstances.
DATASOURCE: Merge Technologies Incorporated
CONTACT: Richard Linden, President & CEO, +1-414-977-4665, or Scott
Veech, Chief Financial Officer, 414-977-4264, both of Merge eFilm
Web site: http://www.merge-efilm.com/
http://www.cedara.com/