Merge Starts Cash And Stock Offer For Etrials

NEW YORK (AP) — Merge Healthcare Inc. said Tuesday it started a cash and stock exchange for shares of etrials Worldwide Inc., a clinical trial software company Merge agreed to buy earlier this month.

Shareholders of Morrisville, N.C.-based etrials would receive 80 cents and 0.3448 shares of Merge for every etrials share they own. In total, Merge agreed to pay $18.3 million in cash and stock for etrials.

The offer is scheduled to expire at midnight on July 14.

Milwaukee-based Merge Healthcare makes medical imaging and information software.