Healthcare IT and advanced visualization developer Merge Healthcare of Milwaukee is reorganizing its business operations, the company announced.
Merge Healthcare North America has been renamed Merge Fusion. Cedara, the company's operating division in Toronto, Ontario, will be renamed Merge OEM.
The company will reduce its worldwide staff by 60 people, to a total of 300 employees. Merge estimates that the staff reductions will result in a charge of at least $6 million in its second quarter ending June 30.
Four company officers have resigned, including Kenneth Rardin (CEO), Steven Norton (CFO), Gary Bowers (president of the company’s Merge North America division), and Loris Sartor (president of the company’s Cedara/Merge OEM division). Four new officers have been appointed: Justin Dearborn (CEO), Steven Oreskovich (CFO), Nancy Koenig (president of Merge Fusion), and Antonia Wells (president of Merge OEM).
The moves follow the company's finalization of a $20 million investment deal with Merrick RIS. The deal included a provision for replacing current Merge board members with representatives designated by Merrick.
Related Reading
Merge completes financing, changes board, June 5, 2008
Merge inks private placement financing deal, May 22, 2008
Merge upgrades Fusion PACS MX, May 19, 2008
Merge losses continue in Q1, May 12, 2008
Merge releases eFilm Scan upgrade, April 15, 2008
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