NEW YORK – Health Systems Solutions notified Emageon on Tuesday that the company is prepared to move forward and close its merger with Emageon. Earlier this week Emageon officials had demanded the closing and accused HSS of stalling.
HSS also announced that it had requested Stanford International Bank Ltd. to fund the transaction by Wednesday.
"HSS can neither guarantee that Stanford will ultimately fund or that alternative sources of financing will be available," HSS officials said in a news release.
HSS was to pay $62 million, or $2.85 a share, for Emageon, which provides information technology systems for hospitals, healthcare networks and imaging facilities.
The deal was first announced on October 14, pending approvals, and Emageon shareholders approved the proposed sale on December 18. HSS officials said then they would use Emageon as a platform for growth.
HSS officials did not indicate why funding from Stanford International Bank might not be forthcoming. Efforts to reach HSS for a comment were unsuccessful.
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