Merge Technologies Incorporated, d.b.a. Merge Healthcare (Nasdaq: MRGE; TSX: MRG), today announced that the Company received a written notification from the staff of The NASDAQ Stock Market on May 16, 2006, stating that the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 would serve as an additional basis for delisting the Company's common stock from The NASDAQ Stock Market. The written notification further provides that the NASDAQ Listing Qualifications Panel will consider this matter in rendering its determination regarding the Company's continued listing on The NASDAQ National Market. This notification is in addition to the previously announced written notification from the staff received on March 20, 2006, stating that the Company was not in compliance with a NASDAQ listing requirement because the Company did not timely file its Annual Report on Form 10-K for the year ended December 31, 2005, and that the Company's common stock was, therefore, subject to delisting from The NASDAQ National Market. As previously announced, on April 20, 2006, representatives of the Registrant appeared before the NASDAQ Listing Qualifications Panel to, among other things, request that the panel grant the Registrant an extension until June 30, 2006 to regain compliance. The NASDAQ Listing Qualifications Panel has not yet informed the Registrant of its decision with respect to such request. The Company continues to cooperate with the NASDAQ Listing Qualifications Panel and plans to present its views with respect to this matter in a timely written response.
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Merge Healthcare is a market leader in the development and delivery of medical imaging and information management software and services. Our innovative software solutions use leading-edge imaging software technologies that accelerate market delivery for our OEM customers, while our end-user solutions improve our customers' productivity and enhance the quality of patient care they provide. For additional information, visit our website at http://www.merge.com .
Merge eMed, a Merge Healthcare company, is focused on accelerating productivity for radiology departments and specialty practices, imaging centers and hospitals. By combining sophisticated RIS, PACS, advanced visualization and clinical imaging applications, Merge eMed delivers integrated end-to-end software solutions and professional services that are transforming the way our customers interact with referring physicians, manage their workflow, position their businesses in their markets and deliver imaging and information services to their customers. For additional information, visit our website at http://www.merge-emed.com .
Cedara Software is a Merge Healthcare company focused on the development of custom engineered software applications and development tools for the medical imaging OEM and International markets. Cedara software is deployed in hospitals and clinics worldwide and is licensed by many of the world's leading medical device and healthcare information technology companies. Cedara technologies and expertise span all the major digital imaging modalities including computed tomography (CT), magnetic resonance imaging (MRI), digital X-ray, mammography, ultrasound, echo-cardiology, angiography, nuclear medicine, positron emission tomography (PET) and fluoroscopy. Cedara medical imaging offerings are used in all aspects of clinical imaging workflow including the capture of a patient's digital image; the archiving, communication and manipulation of digital images; sophisticated clinical applications to analyze digital images; and the use of imaging in minimally- invasive surgery. For additional information, visit our website at http://www.cedara.com .
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words "will," "believes," "intends," "anticipates," "expects" and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, costs, risks and effects of the on-going investigation by the Audit Committee of the Board of Directors; the impact of any restatement of financial statements of the Company or other actions that may be taken or required as a result of such restatement; the Company's inability to timely file reports with the Securities and Exchange Commission; risks associated with the Company's inability to meet the requirements of The NASDAQ Stock Market for continued listing, including possible delisting; costs, risks and effects of legal proceedings and investigations, including the informal, non- public inquiry being conducted by the Securities and Exchange Commission and class action, derivative, and other lawsuits; risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, ability to integrate acquisitions, changing economic conditions, credit and payment risks associated with end-user sales, dependence on major customers, dependence on key personnel, and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
For further information: Beth Frost-Johnson, Sr. VP of Marketing, +1-414-977-4254, bfrost@merge.com , or William Mortimore, President & Chief Executive Officer, +1-414-977-4000, wmortimore@merge.com , both of Merge Healthcare /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030430/MRGELOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, photodesk@prnewswire.com /Web site: http://www.merge.com http://www.merge-emed.com http://www.cedara.com