Merge Technologies Incorporated, based in Milwaukee, Wisconsin is a healthcare software and services company focused on integrating radiology workflow to improve productivity, profitability and patient care by fusing business and clinical workflow, and intelligently managing and distributing diagnostic images and information throughout the healthcare enterprise. The company's products fall into three categories: diagnostic imaging workflow software applications, connectivity and component solutions and professional services. Their diagnostic imaging workflow applications are commonly categorized as Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS), offering a suite of RIS/PACS software solutions and professional services. Since inception in 1987, Merge has been a leader in transforming film-based radiology images into modern digital images for distribution and diagnostic interpretation. In June 2002, Merge acquired eFilm Medical, Inc. and began doing business under the name of Merge eFilm to utilize eFilm's international name recognitiTon for diagnostic medical image workstation software. In July 2003, Merge acquired RIS Logic, Inc. a company that designed software to manage business and clinical workflow for imaging centers. These software solutions automate the entire radiology practice workflow. In June 2005, the company combined with Cedara, a leader in the development of custom engineered software applications and development tools for the medical imaging OEM and international markets. In addition to a direct sales force, in 2004 the company signed a distribution agreement with SourceOne to market and distribute Merge eFilm's entire suite of RIS and PACS solutions throughout the United States of America. Internationally, products are distributed through original equipment manufacturer / value added reseller channels. In the fourth quarter 2006, the company restructured itself into three business units: Merge Healthcare North America, Cedara and Merge Healthcare EMEA (Europe, Middle East, and Africa). For the year ended 2006, MRGE generated net revenue of $75 million with a loss of $7.67 per share compared with $82.6 million in revenues and a loss of $0.11 per share in 2005. The loss for 2006 also includes restructuring, goodwill, and other intangible impairment charges of $230 million. In second quarter 2007, Merge Healthcare North America contributed $8.0 million in revenues (representing 57% of total sales), Cedara contributed $5.0 million in revenues (representing 36%) and Merge Healthcare EMEA contributed $1.0 million in revenues (representing 7%).
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