CDSW Cedara Software Corp (MM)

Merge eFilm and Cedara Announce Closing of Merger Combination Creates Medical Imaging Market Leader Offering Expanded Products and Services and Accelerated Innovation in the Direct and OEM Channels MILWAUKEE and TORONTO, June 1 /PRNewswire-FirstCall/ -- Merge Technologies Incorporated (NASDAQ:MRGE), d.b.a. Merge eFilm, a leading global healthcare software and services company, and Cedara Software Corp. (NASDAQ:CDSW)(TSE:CDE), a leading independent developer of medical software technologies for the global healthcare market, today announced that they have successfully completed the merger of the two companies. The transaction, which was structured as a Plan of Arrangement, was approved by the shareholders of both companies on May 24th, 2005, and received final court approval from the Ontario Superior Court of Justice on May 26th, 2005. Under the terms of the transaction, shareholders of Cedara will receive either 0.587 shares of Merge common stock or 0.587 exchangeable shares for each common Cedara share held. The transaction was structured to be tax deferred to Canadian resident Cedara shareholders, who receive exchangeable shares and who have made the proper tax election. The exchangeable shares were issued by Merge Cedara ExchangeCo Limited, and will trade on the Toronto Stock Exchange under the ticker symbol MRG. (Logo: http://www.newscom.com/cgi-bin/prnh/20030430/MRGELOGO ) As previously announced, Richard Linden will be President and CEO of the combined company, and Abe Schwartz, President and CEO of Cedara Software Corp., will continue his involvement as a member of the Merge eFilm Board of Directors. The corporate headquarters for the newly combined company will be in Milwaukee, Wisconsin. "We are pleased to announce the closing of the merger between Merge eFilm and Cedara Software Corp.," said Linden. "The combined company will provide a comprehensive suite of medical imaging software applications and professional services to help manage clinical and business workflow for our customers. Additionally, the extensive OEM supported research and development function of the new company will further accelerate our entry into advanced visualization and clinical application markets and ensure we stay on the leading edge of imaging software development." About Merge eFilm Merge eFilm is a global healthcare software and services company focused on accelerating the productivity of imaging centers, small- to medium-sized hospitals and clinics with a suite of RIS/PACS products that more efficiently streamline, integrate and distribute image and information workflow across the healthcare enterprise. Since 1987, Merge eFilm has leveraged its healthcare integration and connectivity experience to create workflow solutions that improve our customers' productivity and enhance the quality of care they provide. For more information about Merge eFilm's products and services, visit our website at http://www.merge-efilm.com/ , or call Beth Frost-Johnson, Senior Vice President-Marketing and Strategic Planning, at 414-977-4254, email . About Cedara Software Corp. Cedara Software Corp. is a leading independent provider of medical imaging technologies. Cedara's software is deployed in hospitals and clinics worldwide and is licensed by many of the world's leading medical device and healthcare information technology companies. Approximately 28,000 medical imaging systems and 6,400 Picture Archiving and Communications System (PACS) workstations have been licensed to date. Cedara recently acquired eMed Technologies Corporation, widely known as a provider of innovative PACS and teleradiology solutions that have been installed in over 2,000 hospitals and imaging centers. Cedara is quite unique in that it has technologies and expertise that span all the major digital imaging modalities including computed tomography (CT), magnetic resonance imaging (MRI), digital X-ray, mammography, ultrasound, echo- cardiology, angiography, nuclear medicine, positron emission tomography (PET) and fluoroscopy. Furthermore, the Company's medical imaging offerings are used in all aspects of clinical workflow including the capture of a patient's digital image; the archiving, communication and manipulation of digital images; sophisticated clinical applications to analyze digital images; and even the use of imaging in minimally-invasive surgery. For more information about Cedara's products and services, visit our website at http://www.cedara.com/ , or call Jacques Cornet, Vice President of Marketing & Operations, at (905) 672-2100 ext. 2564, email: . http://www.newscom.com/cgi-bin/prnh/20030430/MRGELOGO http://photoarchive.ap.org/ DATASOURCE: Merge eFilm; Cedara Software Corp. CONTACT: Richard Linden, President & CEO, +1-414-977-4665, or Scott Veech, Chief Financial Officer, +1-414-977-4264, both of Merge eFilm; or Abe Schwartz, President & CEO, +1-905-672-2101 x2000, or Brian Pedlar, Chief Financial Officer, +1-905-672-2101 x2015, both of Cedara Software Corp. Web site: http://www.merge-efilm.com/ http://www.cedara.com/

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