Merge's net losses widen in Q3; Allscripts Surges named CEO
Merge Healthcare, a developer of health IT and interoperability systems, has reported that its net losses worsened in the 2010 third quarter, despite dougle-digit gains in revenues, compared with the 2009 third quarter.
The company saw revenue increase to $45.2 million in the 2010 third quarter, compared with $16.9 million in the third quarter of 2009. In the 2010 third quarter, the net loss available to common shareholders was $5 million, compared with a net loss of $900,000 in the third quarter of 2009, Merge said.
The Milwaukee-based company also announced that its board of directors has named Jeffery A. Surges CEO. Surges was most recently president of sales at Allscripts Healthcare Solutions, a Merge partner. Surges has 20 years of experience managing technology companies in the healthcare and information services industries, including his role as president and CEO of Extended Care Information Network before that firm’s December 2007 sale to Allscripts.
Justin Dearborn, Merge's former CEO, will assume the newly created role of president and will focus on growing Merge’s international business, the company stated.
The company saw revenue increase to $45.2 million in the 2010 third quarter, compared with $16.9 million in the third quarter of 2009. In the 2010 third quarter, the net loss available to common shareholders was $5 million, compared with a net loss of $900,000 in the third quarter of 2009, Merge said.
The Milwaukee-based company also announced that its board of directors has named Jeffery A. Surges CEO. Surges was most recently president of sales at Allscripts Healthcare Solutions, a Merge partner. Surges has 20 years of experience managing technology companies in the healthcare and information services industries, including his role as president and CEO of Extended Care Information Network before that firm’s December 2007 sale to Allscripts.
Justin Dearborn, Merge's former CEO, will assume the newly created role of president and will focus on growing Merge’s international business, the company stated.