Merge Healthcare completes acquisition of Confirma; Feds give green light for Fidelity’s acquisition of Metavante
Merge Healthcare completes acquisition of Confirma
With the completion of its acquisition of Confirma Inc., West Allis-based Merge Healthcare Inc. has enhanced its medical imaging capabilities to become a market leader in MRI computer-aided detection (CAD) applications.
The combined business has the capability to widen the global adoption of CAD technology through Merge’s international distribution network, as well as provide broader interoperability of this important tool within the health IT enterprise.
As part of the transaction, Merge Healthcare issued approximately 5.4 million shares of its common stock. In addition, Merge will add approximately $2 million to Seattle, Wash.-based Confirma’s existing cash balance in order to retire the outstanding debt and fund transaction-related costs.
Confirma shareholders approved the merger on August 28, 2009.
Confirma will be renamed Merge CAD and operated as a business unit of Merge led by Paul Budak, who most recently served as the vice president of research, development and operations at Confirma.
"This has been a straightforward transaction with a clear value proposition," said Merge chief executive officer Justin Dearborn. "The Merge and Confirma teams both understand medical imaging technology at a very granular level and have a shared vision in ensuring that clinicians use it for faster and more efficient decision making. All stakeholders are anticipating that positive results will flow quickly from this newly combined business."
Feds give green light for Fidelity’s acquisition of Metavante
Fidelity National Information Services Inc. (FIS) and Brown Deer-based Metavante Technologies Inc. have received clearance from the U.S. Department of Justice to complete their proposed merger without conditions.
The completion of the acquisition of Metavante by Jacksonville, Fla.-based Fidelity remains subject to receipt of FIS and Metavante shareholder approvals, and other customary closing conditions.
FIS will hold a special meeting of its shareholders today to vote on the issuance of FIS common stock in connection with the merger of Metavante into a wholly owned subsidiary of FIS, and to vote on the issuance of approximately 16 million shares of FIS common stock to affiliates of Thomas H. Lee Partners, L.P. and Fidelity National Financial, Inc. in connection with the equity investments in FIS to be made by those parties coincidentally with the completion of the merger.
Metavante also will hold a special meeting of its shareholders today to vote on the approval of the acquisition.
FIS and Metavante expect the merger to close during the fourth quarter of 2009.
Sturgeon Bay moving and storage company acquired by Kewaunee firm
Peninsula Transfer Moving & Storage, a Sturgeon Bay based moving and storage firm, has been acquired by Tim De Jardin, owner of Kewaunee-based Tim De Jardin, Trucking, LLC. Terms of the transaction were not disclosed.
Cornerstone Business Services, Inc., a Green Bay-based mergers and acquisitions firm, helped broker the deal.
