Amicas rejects higher $245M takeover bid

By Mass High Tech staff

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Less than two months after agreeing to be acquired by private equity firm Thoma Bravo LLC for $217 million, Amicas Inc. reports it has rejected a $245.4 million offer from Merge Healthcare Inc.

Milwaukee, Wis.-based Merge Healthcare, a health care IT company, made an unsolicited proposal to acquire Boston-based imaging technology company Amicas for $6.05 per share, compared to the $5.35 per share offer made by Chicago and San Francisco-based Thoma Bravo in December.

Despite the higher dollar value, Amicas (Nasdaq: AMCS) prefers the Thoma Bravo deal. The company called the Merge Healthcare offer “illusory and risky,” and its board has recommended its stockholders vote for the Thoma Bravo deal. Amicas said the Merge proposal was “highly conditional” and dependent on third-party financing.

Last February, Amicas announced an agreement to acquire Emageon Inc., an Alabama health-care technology company for about $39 million in a stock buyout.

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