Friday, February 21, 2014

Merge Announces...

In my daily barrage of email came this announcement from Merge, which you can also find on Yahoo Finance:
CHICAGO, Feb. 21, 2014 (GLOBE NEWSWIRE) -- Merge Healthcare Incorporated (MRGE), a leading provider of innovative enterprise imaging, interoperability and clinical systems that seek to advance healthcare, today announced that its Board of Directors has appointed William J. Devers Jr., president of Devers Group Inc, as a director, effective immediately.

"We are very fortunate to have a new director with such a considerable amount of business and software experience added to the Merge Board of Directors," said Merge Chairman Dennis Brown. "Bill's knowledge and vision will make him a significant contributor to helping Merge execute the business plan it has formulated to increase its market position in enterprise imaging and interoperability. We believe that his strategic insights and guidance will be critical as we look to increase shareholder value."

Devers was the CEO of Trans Union Credit Information Company. He left Trans Union in 1983 and started Devers Group as a vehicle for his private investments. Devers group began with an acquisition strategy, acquiring software companies in various vertical markets. Prior to divestitures, Devers Group had revenues of approximately $100 million and employed approximately 700 people.

Over the past 30 years, Mr. Devers has bought and sold over 20 software concerns, including sales to EDS, Klopotek (Berlin, Germany), DBS Systems and others. Currently, Mr. Devers manages DGI Private Equity Ventures, LLC, serves on the Board of Directors of Ryan Specialty Group, Lurie Children's Hospital of Chicago, the Big Shoulders Fund and is a less than 3% non-voting shareholder of Merrick Ventures. In addition, Mr. Devers serves on an Advisory Board at the University of Notre Dame and is a Trustee of the Museum of Science and Industry in Chicago.
Italics are mine. Mr. Devers sounds like an excellent addition to the Merge team. But I'm a little intrigued by the mention of the buying and selling of software concerns. Are we announcing more than we are announcing?

Hat tip: TOAOPM

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