MILWAUKEE, March 23 /PRNewswire-FirstCall/ -- Merge Technologies Incorporated, d.b.a. Merge Healthcare (Nasdaq: MRGE; TSX: MRG) (the "Company" or "Merge") today announced that because the Company has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2005, it received a Nasdaq Staff Notification on March 20, 2006, stating that the Company is not in compliance with Nasdaq's Marketplace Rule 4310(c)(14), and that its securities are, therefore, subject to delisting from the Nasdaq National Market. The delisting notification is customary when a Nasdaq listed company fails to complete a required filing in a timely manner.
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In accordance with Nasdaq rules, Merge has requested a hearing before a Nasdaq Listing Qualifications Panel for continued listing on the Nasdaq Stock Market. No action will be taken to delist Merge's common stock until the Panel has completed its review, though there can be no assurance that the Panel will grant Merge's request for continued listing.
Richard A. Linden, President and Chief Executive Officer, stated, "We are cooperating fully with Nasdaq and are taking all actions necessary to bring our company back into compliance with all the listing requirements."
Merge is working diligently to complete its Annual Report on Form 10-K and will file it as promptly as practicable.
Merge Healthcare is a market leader in the development and delivery of medical imaging and information management software and services. Our innovative software solutions use leading-edge imaging software technologies that accelerate market delivery for our OEM customers, while our end-user solutions improve our customers' productivity and enhance the quality of patient care they provide. For additional information, visit our website at http://www.merge.com/ .
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words: guidance, believes, intends, anticipates, expects, and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, ability to integrate acquisitions, unexpected outcomes to any pending or future litigation, changing economic conditions, credit and payment risks associated with end-user sales, dependence on major customers, dependence on key personnel, and other risk factors detailed in filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
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