Boston-based Amicas agreed to purchase Emageon Inc. (Birmingham, Ala.), a provider of healthcare technology solutions, for $39 million in an effort to expand its presence in the image and information management market.
Under the terms of the deal, Emageon will be absorbed by a subsidiary of Amicas, which will purchase all of the company’s outstanding shares for $1.82 each. Emageon’s board unanimously recommended that shareholders tender their shares in the offer.
Amicas closed out 2008 with a balance of $55 million and no long term debt, the company says.
According to the company it will deliver a tender offer by March 5, and the transaction, subject to customary conditions, is expected to close in the second quarter of 2009. Amicas says the acquisition will boost its customer base to more than 1,000.