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Merge Healthcare Announces Tender Offer And Consent Solicitation For 11.75% Senior Secured Notes Due 2015

Stocks in this article: MRGE

CHICAGO, April 2, 2013 (GLOBE NEWSWIRE) -- Merge Healthcare Incorporated (Nasdaq:MRGE), a leading provider of clinical systems and innovations that seek to transform healthcare, today announced that it has commenced a cash tender offer (the "Tender Offer") for any and all of its $252,000,000 outstanding aggregate principal amount of 11.75% Senior Secured Notes due 2015 (CUSIP Nos. 589499AB8 and 589499AA0) (the "Notes"). The purpose of the Tender Offer is to improve Merge's financial position by refinancing its indebtedness outstanding under the Notes at a lower interest rate.

In connection with the Tender Offer, Merge is soliciting consents (the "Consent Solicitation") to effect certain proposed amendments to the Notes and the indenture governing the Notes (the "Indenture") that would eliminate substantially all of the restrictive covenants and certain events of default contained therein, would release all of the collateral securing the Notes, would shorten the minimum redemption notice period required for Merge to redeem Notes from thirty days to three business days prior to the redemption date, and would modify certain other related provisions contained in the Indenture. The Tender Offer and Consent Solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated April 2, 2013 (the "Offer to Purchase"), which more fully sets forth the terms and conditions of the Tender Offer and Consent Solicitation.

The Offer to Purchase will expire at 12:00 midnight, New York City time, on April 29, 2013, unless extended or earlier terminated (such date and time, as the same may be extended or earlier terminated, the "Expiration Time"). Notes tendered may only be withdrawn, and related consents revoked, prior to 5:00 p.m., New York City Time, on April 15, 2013, unless extended, except in certain limited circumstances where additional withdrawal rights are required by law.

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