Monday, February 23, 2009

Amicas buys imaging solutions firm Emageon

By Mass High Tech staff

Amicas Inc., a Boston radiology and medical imaging software developer, has announced an agreement in which it will acquire Emageon Inc., an Alabama hospital and health care technology service provider for about $39 million in a stock buyout.

The deal calls for Amicas (Nasdaq: AMCS) to pay $1.82 per share in cash for Emageon’s shares of stock. About 18 percent of Emageon’s shareholders have agreed to tender their offer, beginning March 5.

Emageon (Nasdaq: EMAG) develops radiology and cardiology IT solutions. Company officials said the acquisition will create an imaging suite that includes radiology PACS, cardiology PACS, radiology information systems, cardiology information systems, revenue cycle management systems and referring physician tools.

Amicas develops the One Suite for imaging centers, radiology facilities and ambulatory care practices.

Amicas officials said the company had no debt and about $55 million in cash, cash equivalents and marketable securities at the close of 2008.