(Source: Business Wire)
Merge Healthcare Incorporated (NASDAQ: MRGE) ("Merge Healthcare"), a leading health IT solutions provider, today announced the scheduling of its second quarter 2009 earnings call, which will be held at 4:15 p.m. EDT on Thursday, July 30th. Investors are welcome to join the call via phone or internet by following the directions noted below.
In addition to discussing second quarter earnings results, which will be published before the market opens on July 30th, the call will focus on the completion of Merge Healthcare's acquisition of etrials Worldwide, Inc. (NASDAQ: ETWC) ("etrials"), a leading provider of clinical trials software and related services. The transaction closed today, resulting in etrials becoming a wholly-owned subsidiary called Merge eClinical. Shares of etrials will cease to be traded on the NASDAQ Global Market.
Merge eClinical will be led by Jon T. DeVries, who joins Merge from Massachusetts General Hospital's 3D visualization services. Mr. DeVries brings strong experience in medical imaging innovation both in the pre-clinical space and in latter phase clinical trials. "Leading Merge eClinical toward profitable growth, with new imaging capabilities from Merge and a solid eClinical backbone from etrials, is a fantastic opportunity," says Mr. DeVries. "I look forward to bringing this new value proposition to the broader clinical trials market."
"This is an exciting time for Merge Healthcare," says Justin Dearborn, CEO. "The successful acquisition of etrials enhances Merge Healthcare's ability to continue on our path of rebuilding the company into a profitable health IT leader. I am looking forward to discussing etrials, as well as the rest of our ongoing business strategies, at the upcoming earnings call."
In conjunction with the acquisition, an organization wide reduction in force was implemented to better align the two organizations and realize necessary cost synergies. As a result of this action, approximately 35 positions were eliminated in North Carolina, Wisconsin and Ontario. This action is expected to result in a charge in the third quarter of approximately $1.7 million.
Conference Call Information: Merge will hold a public web cast July 30, 2009 at 4:15 p.m. EDT to review financial results for the second quarter of 2009 and to provide an update on business operations and strategy. Immediately following this will be a question and answer session. Investors will have the opportunity to listen to the conference call via telephone or over the Internet at Merge Healthcare Web Cast. To access the call, dial 800.221.2015 (US and Canada) or 706.634.2159 (International).
