Healthcare IT and advanced visualization developer Merge Healthcare said it has completed an exchange offer of its 11.75% senior secured notes ("Old Notes") due 2015.
The old notes were issued in a private placement in June 2011 to finance Merge's purchase of Amicas in April 2010. As a result of the exchange offer, the notes were replaced with newly issued 11.75% senior secured notes due 2015. Merge was obligated to conduct the exchange offer under the terms of the registration rights agreement regarding the old notes. Merge did not receive any proceeds from the exchange offer.
