CHICAGO–(BUSINESS WIRE)– Merge Healthcare Incorporated (NASDAQ: MRGE) (“Merge”) announced today that its previously announced consent solicitation (the “Solicitation”), with respect to proposed amendments to the indenture (the “Indenture”) governing the company’s outstanding $200 million in aggregate principal amount of 11.75% Senior Secured Notes due 2015 (the “Notes”), expired at 5:00 p.m., New York City time, on June 14, 2011 (the “Expiration Time”). As of the Expiration Time, $152.8 million aggregate principal amount of the Notes validly delivered a duly executed consent for the proposed amendments. Accordingly, the consents received exceed the number needed to approve the proposed amendments to the Indenture.
As part of the Solicitation, Merge will make a cash payment (the “Consent Payment”) of $10.00 per $1,000 in principal amount of Notes to each Holder who has validly delivered a duly executed consent on or prior to the Expiration Time in accordance with the procedures described in the Consent Solicitation Statement (the “Solicitation Statement”). Merge’s obligation to make the Consent Payment is contingent, among other things, upon the conditions described in the Solicitation Statement, including the consummation of the offering of an aggregate principal amount not to exceed $52.0 million of Merge’s 11.75% Senior Secured Notes due 2015. The Consent Payment will be paid promptly following the satisfaction of the conditions outlined in the Solicitation Statement.
Merge Healthcare Incorporated is a leading provider of enterprise imaging and interoperability solutions. Merge Healthcare solutions facilitate the sharing of images to create a more effective and efficient electronic healthcare experience for patients and physicians. Merge Healthcare provides enterprise imaging solutions for radiology, cardiology and orthopaedics; a suite of products for clinical trials; software for financial and pre-surgical management, and applications that fuel the largest modality vendors in the world. Merge Healthcare’s products have been used by healthcare providers, vendors and researchers worldwide to improve patient care for more than 20 years. Additional information can be found at www.merge.com.