A Medical Device Daily
Merge Healthcare (Milwaukee, Wisconsin), amedical imaging software and services company, reported that its board has approved the redemption of all preferred share purchase rights outstanding on each share of the company's common stock and on each exchangeable share issued by Merge Cedara ExchangeCo Ltd., an indirect majority-owned subsidiary of the company.
The rights were previously issued pursuant to the terms of a rights agreement, dated as of Sept. 6, 2006, as amended, between the company and American Stock Transfer & Trust Co. as rights agent.
One right is outstanding on each outstanding share of company common stock and on each exchangeable share of Merge Cedara ExchangeCo Ltd. Pursuant to the rights agreement, the redemption price is $0.001 per right.
Shareholders of record on June 23 will receive payment of the redemption price on July 7. However, pursuant to the terms of the rights agreement, the right to exercise the rights terminated effective immediately upon the action of the board.
Merge develops clinical and medical imaging software applications and development tools. Its medical imaging software solutions support business and clinical workflow for radiology department and specialty practices, imaging centers and hospitals.
Its diagnostic imaging workflow applications include picture archiving and communication systems, radiology information systems, and clinical applications that support medical imaging in various specialized areas, such as orthopedics, cardiology, mammography and oncology.