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Merge Technologies Appoints New Chief Financial Officer. New CFO brings substantial experience to growing company.
Milwaukee, WI, July 24, 2002

Merge Technologies Incorporated (NASDAQ: MRGE) today announced the appointment of Mr. Scott T. Veech as Vice President and Chief Financial Officer. Colleen Doan, who has served as Merge's CFO for the past several years, will be leaving Merge in August to attend law school at Northwestern University.

"Mr. Veech comes to the company with extensive financial and managerial experience, which will add to the breadth and depth of our executive team," said Rich Linden, Merge's president and CEO. "Financial discipline and operational excellence are core to our strategy. Mr. Veech will help drive continual improvement in these key areas, and will strengthen our external financing, transaction, and investor relations capabilities as we accelerate the growth of our company. I am excited about the contributions that he will make as we expand our business," said Linden.

Mr. Veech started his career with Ernst & Young's Chicago office. He then served as Vice-President, Finance, at MMI Companies, Inc, a publicly traded international healthcare risk management, insurance and professional services company with $2 billion in assets that was acquired by the St. Paul Group in 2000. During his tenure at MMI, Scott contributed to a number of financial initiatives, including an initial public offering, secondary offering, and numerous acquisition transactions. Scott most recently served as Senior Vice-President, Treasurer and CFO at Penn Millers Insurance Company.

"This is a dynamic and well respected company with a very compelling business model," said Veech. "I look forward to working with my colleagues as Merge continues to make progress in its financial and operational initiatives."

"I have considered a legal career for a period of time, and am pleased to have this opportunity at Northwestern," said Doan, who has served in various financial roles for the past thirteen years. "Merge has made great progress over the years, and I am proud of our accomplishments. While I look forward to a career in law, I will miss being active in Merge's future success."

Ms. Doan and Mr. Veech will have a joint transition period for the next month to assure continuity of financial management. They will mutually participate in Merge's July 31 earnings call.

Press Contact

Attn: Beth Frost-Johnson
Merge Healthcare
6737 West Washington St.
Suite 2250
Milwaukee, WI 53214

Phone:
1-(414) 977-4254

Email Address: marketing@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 “will,” “believes,” “intends,” “anticipates,” “expects” and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, the uncertainty created by, the adverse impact on relationships with customers, potential customers, suppliers and investors potentially resulting from, and other risks associated with, the changes in the Company’s senior management; costs, risks and effects of the investigation by the Audit Committee of the Board of Directors; the impact of the restatement of financial statements of the Company and other actions that may be taken or required as a result of such restatement; the Company's inability to timely file reports with the Securities and Exchange Commission; risks associated with the Company's inability to meet the requirements of The NASDAQ Stock Market for continued listing, including possible delisting; costs, risks and effects of legal proceedings and investigations, including the informal, non-public inquiry being conducted by the Securities and Exchange Commission and class action, derivative, and other lawsuits; 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, 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 the Company’s filings with the Securities and Exchange Commission. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.