Published:
SEC Concludes Investigation of Merge Healthcare
MILWAUKEE - (BUSINESS WIRE) - Merge Healthcare (NASDAQ: MRGE),
a health IT solutions provider, today announced its settlement with the
SEC of the multi-year investigation into the conduct of two former
company executives, and the circumstances which led to a restatement in
2006 of the company's 2002 through 2005 financial statements. This
investigation ran concurrent with two shareholder lawsuits, which were
resolved in 2008.
The complaint, filed by the SEC in federal court today, charged Merge
with record-keeping violations, and charged two of the company's former
executives with accounting fraud. In resolving this matter, the SEC
decided not to charge the company with fraud nor assess any penalty
against the company for the actions of its former executives. This
outcome is in alignment with Merge's expectations, as previously
disclosed.
"Merge Healthcare is glad to see that the SEC considered the facts and
circumstances, as well as Merge's cooperation, in reaching this
resolution," says Justin Dearborn, Merge CEO. "This has been a long and
difficult process for the company, even though these issues happened
several years ago. Employees, customers and shareholders all welcome the
closing of this chapter of Merge's history."
Merge Healthcare develops software solutions that automate
healthcare data and diagnostic workflow to create a more comprehensive
electronic record of the patient experience. Merge products, ranging
from standards-based development toolkits to fully integrated clinical
applications, have been used by healthcare providers worldwide for over
20 years. Additional information can be found at www.merge.com.
Merge Healthcare
Media Contact:
Julie Pekarek
Chief
Marketing Officer
414.977.4254
jpekarek@merge.com
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