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.
Merge also announced preliminary first quarter results for AMICAS. The company had a net loss of $1.8 million, compared with a $1.17 million loss during the same period last year. Quarterly revenue was $29.4 million for AMICAS, compared with nearly $11.3 million a year ago before AMICAS bought rival Emageon.
More information is available at merge.com.
Register or login for access to this item and much more
All Health Data Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access