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Print Edition StoriesFriday, March 5, 2010
Amicas, Merge to pay $8.6M fee to rejected buyer Thoma Bravo
By Julie M. Donnelly
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Amicas, a health care information technology company, will pay an affiliate of Thoma Bravo LLC a termination fee of $8.6 million, following the Amicas board of directors’ unanimous vote to end its previously announced acquisition agreement with Thoma Bravo. Instead, Amicas agreed earlier this week to be bought by Merge Healthcare in a cash deal worth $248 million.
Half of the termination fee to Thoma Bravo will be paid by Wisconsin-based Merge.
In its acquisition, Merge will pay $6.05 per share of Boston-based Amicas’ outstanding stock.
This new price per share is a 13 percent premium over Merge’s initial offer of $5.35 per share.
The board of directors of AMICAS has also unanimously voted to terminate Amicas’ previously announced agreement with an affiliate of Thoma Bravo LLC.
Amicas will have to pay an affiliate of Thoma Bravo a termination fee of $8.6 million, half of which will be reimbursed by Merge.
The combined resources of the two companies will provide automation solutions for cardiology, enterprise content management solutions, and clinical trial management products for pharmaceutical, biotechnology, medical device and contract research organizations.
The transaction is expected to close in the second quarter of 2010.
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