Medical imaging vendor Merge Healthcare increased revenue during the first quarter of 2010 but lost money because of expenses related to its acquisition of rival firm AMICAS, which closed in the second quarter.
The Milwaukee-based company had a net loss of $3.2 million, compared with $2.8 million in profit during the same period a year ago. During the quarter the company's cash balance fell by $3.8 million to $15.8 million, primarily due to the payment of $4.9 million in acquisition-related costs. First quarter revenue for Merge increased 31 percent to $20 million.
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