Single Page | 
Multiple Pages
Home > BizTimes Daily > Archives > June 5, 2008
Merge Healthcare replaces management team
Published June 5, 2008 - BizTimes Daily
Merge Healthcare Inc., the beleaguered West Allis-based medical software company, is launching a major reorganization that will include changes in its executive management team and a reduction in its workforce.
The company is reorganizing and renaming its operating divisions. Merge Healthcare North America (MHNA) has been renamed Merge Fusion, and Cedara, its operating division located in Toronto, Ontario, will be renamed Merge OEM.
The company's worldwide headcount will be reduced by approximately 60 people, to approximately 300 employees. The company anticipates that these reductions will result in a charge of at least $6 million in its financial statements for the second quarter ending June 30. The charge is expected to include at least $5 million in employee severance costs related to these headcount reductions and the management changes.
The company accepted the resignations of four company officers: Kenneth Rardin (chief executive officer), Steven Norton (chief financial officer), Gary Bowers (president of the company's Merge North America division); and Loris Sartor (president of the company's Cedara/Merge OEM division).
The company's board of directors determined that the officers are entitled to full severance benefits under their pre-existing employment agreements.
The company also appointed the following four new officers:
- Justin Dearborn, CEO. Dearborn most recently served as managing director and general counsel of Merrick Ventures LLC, an affiliate of Merrick RIS LLC.
- Steven Oreskovich, CFO. Oreskovich has served in a progression of roles at the company, starting as its vice president and corporate controller, then becoming its chief accounting officer and interim treasurer and interim secretary and most recently serving as its vice president of internal audit.
- Nancy Koenig, president of the company's newly-renamed Merge Fusion Division. Koenig comes to Merge from Merrick Healthcare Solutions, where she served as its CEO.
- Antonia Wells, president of the company's newly-renamed Merge OEM Division. Since joining the company in 1999, Wells has been responsible for Merge OEM's contract management, quality/regulatory affairs, manufacturing, order management, professional services and internal infrastructure. Since June of 2005, she has served as Merge OEM's vice president of customer operations.
