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News | December 28, 2009

AMICAS Agrees to be Acquired for $217 Million

Stephen Kahane president, CEO and chairman of Amicas.

December 28, 2009 - AMICAS entered into a definitive agreement with an affiliate of Thoma Bravo LLC, a multi-industry private equity firm, to be acquired for $217 million in cash.

Under the terms of the purchase agreement, AMICAS shareholders would receive $5.35 in cash for each share or stock option they hold, which would be a 21 percent premium to the stock's closing price of $4.42 on Thursday, ahead of the holiday weekend. The stock price rose 28 percent in premarket trading Monday, to $5.45, and then fell to slightly below $5.35 in morning trading.

Stephen Kahane, president, CEO and chairman of AMICAS, a company that develops radiology PACS, cardiology PACS and other health IT software, said AMICAS’ board has unanimously approved the agreement.

The Thoma Bravo would acquire AMICAS when the deal closes in the first quarter of 2010. As of Dec. 24, AMICAS has 45 days to solicit alternative proposals from third parties.

For more information: www.amicas.com

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