“Merge delivered a very strong Q1 performance with record sales, while at the same time we positioned our portfolio to help our customers achieve Meaningful Use,” said Jeff Surges, Merge’s Chief Executive Officer. “During the quarter, we added significant talent to our organization through our ongoing investment in sales and marketing teams, which is expanding market awareness for our solutions.”
Company generates $54 million of pro-forma revenue
CHICAGO–(BUSINESS WIRE)– Merge Healthcare Incorporated (NASDAQ: MRGE), a global corporation dedicated to health IT interoperability solutions, today announced financial results for the first quarter of 2011.
- Revenue grew to $52.7 million ($54.0 million on a pro forma basis) in the quarter, compared to $20.0 million in the first quarter of 2010
- Adjusted EBITDA was $13.2 million, representing 25.0% of revenue (24.4% on a pro forma basis) in the quarter compared to $5.6 million and 27.9% in the first quarter of 2010
- Cash from core business operations increased to $8.9 million in the quarter, compared to $0.8 million in the first quarter of 2010
- Announced signing of first client for Meaningful Use upgrade of Merge radiology platform
“Merge delivered a very strong Q1 performance with record sales, while at the same time we positioned our portfolio to help our customers achieve Meaningful Use,” said Jeff Surges, Merge’s Chief Executive Officer. “During the quarter, we added significant talent to our organization through our ongoing investment in sales and marketing teams, which is expanding market awareness for our solutions.”
