Everyone on Merge’s e-mail list received this message earlier today:
Dear Merge Clients,
I am writing to make you aware of a recent press release that Merge issued last week. This release indicated that we have hired Allen & Co., a premier financial advisor, to evaluate our strategic options.
As a result of this communication, many of you have come to us with questions. I want to take this opportunity to clarify three critical points that are important for our clients to know:
- Merge solutions and product roadmaps are safe. Merge offers industry leading products, delivered by a dedicated and talented workforce, with tremendous market share that will continue to live on and thrive under any ownership model.
- Merge is and will continue to be a productive leader in healthcare IT. This action is a positive one. We are a cutting-edge, multi-hundred million dollar company that continually evaluates opportunities to improve our business.
- Merge is not for sale. As a publicly traded company, we have a fiduciary duty to our shareholders; to investigate all opportunities in their best interests.
While there are no assurances that the engagement of financial advisors will result in a transaction of any sort, we want you to understand that this press release is a positive one for Merge. We are investigating all of our options to ensure a healthy, long-term business for our clients, our greatest assets.
Again, thank you for your continued dedication and support.
Chief Executive Officer
I am certainly hoping that Merge is NOT for sale, especially given my discussions with Merge Brass over the years, and MOST especially given the short list of possible suitors. It was a logical conclusion to which to jump based on the prior e-mail and press-release telling us that Merge’s
. . . Board of Directors has retained Allen & Company LLC, a New York-based investment bank, to assist in exploring and evaluating a broad range of strategic alternatives, including, but not limited to, a sale of the Company or a business combination.
Of course, AMICAS wasn’t for sale, either. Sigh.
I just received a call from a member of the Merge Brass. I am reassured that the actions are simply proper financial due dilligence, and Merge is indeed NOT for sale. Case closed. For now, anyway.