Amicas weighs Merge Healthcare takeover bid
This article was originally published in The Gray Sheet
Executive Summary
Imaging IT solutions provider Amicas' board of directors pledges to consider an updated $248 million acquisition proposal from health IT firm Merge Healthcare as an alternative to Amicas' December agreement to be acquired for $217 million by private equity investment firm Thoma Bravo (1"The Gray Sheet" Jan. 4, 2010). While Amicas had initially dismissed Merge Healthcare's alternative offer as "highly conditional, illusory and risky," an update to the offer announced Feb. 24 included "an executed definitive commitment letter for $200 million of financing from Morgan Stanley," Amicas states. Amicas' board will now "evaluate the updated Merge proposal to determine appropriate next steps," the company said Feb. 24