1. 11/10/2016 Midmark to Acquire Versus Technology, Inc.
http://www.versustech.com/rtls-news/press-releases/midmark-acquire-workflow-technology-firm-versus-technology-inc/ 1/2
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Posted by Versus on April 8, 2016 at 3:11 pm
Advancing Midmark leadership in outpatient clinical workflows using real-time locating systems
DAYTON, Ohio, and TRAVERSE CITY, Mich., April 8, 2016 — Midmark Corporation
(“Midmark”), a leader in workflow solutions for outpatient settings, today announced it has
entered into a definitive merger agreement to acquire Versus Technology, Inc. (“Versus”)
pursuant to which Midmark will acquire all the issued and outstanding common shares of
Versus. The Traverse City, Mich. based company is the most-deployed real-time locating
systems (RTLS) provider in healthcare, using location technology and rules-based automation
tools to make health systems safer and more efficient.
The combination of Midmark and Versus will create a unique offering of clinical workflow
solutions. These solutions encompass clinical workflow services, RTLS technology, medical
equipment, diagnostic devices and design assistance, resulting in improved efficiency within
health systems.
Using its clinical expertise attained by years of immersive research, Midmark developed
Midmark Clinical Solutions (MCS), a foundational tool in assisting health networks to improve
clinical workflows and enhance the patient-caregiver experience. MCS workflow principles teach
industry professionals the value of a holistic approach in achieving optimal workflows in their
healthcare environments. For nearly 30 years, Versus has provided expertise in automating
clinical workflows and resource optimization. The addition of Versus RTLS technology will give
Midmark the ability to provide customers improved, data-driven decision making when
developing these processes within health systems.
John Baumann, president and CEO of Midmark stated, “This rapidly propels us toward
becoming the foremost provider of clinical workflow solutions. We will leverage this technology to
deliver data-driven solutions to our customers that will provide a better healthcare experience for
their patients. We are looking forward to welcoming our new teammates in Traverse City and
are excited for our future together.”
“We are very excited for the opportunity this collaboration will provide for our system integrators
and end-user customers,” said HT Snowday, president of Versus. “Healthcare providers face
difficult decisions every day relating to equipment, room design, staffing and workflow. Together,
Versus and Midmark will be able to provide more specialized, data-driven solutions to health
systems, strengthening our businesses while enhancing healthcare for all involved.”
The merger has been unanimously approved and recommended to the Versus shareholders by
the Versus Board of Directors, and is subject to shareholder approval. A special meeting of
shareholders has been scheduled for April 29, 2016, to seek approval. Assuming shareholder
approval is obtained and all conditions to closing have been met, closing of the merger is
estimated to occur on or before approximately May 4, 2016. After closing, initial cash
distributions to shareholders will be approximately $0.35 per share with additional distributions
over the next five years of up to $0.047 per share depending on claims against certain escrow
holdback provisions. Versus core operations will remain in Traverse City, Mich.
About Midmark
Founded in 1915, Midmark Corporation strives to bring efficient patient care to millions of people
each day in the human and animal healthcare industries around the world. A leading provider of
medical, dental and veterinary equipment solutions, Midmark is focused on continuously
improving exam room workflow and enhancing patient-caregiver interactions. Midmark’s more
than 1,500 teammates worldwide are dedicated to redefining the future of the clinical space and
making a positive difference in the practice of healthcare. Headquartered in Dayton, Ohio,
Midmark now maintains production and administrative offices in Versailles, Ohio, as well as five
subsidiaries in the United States and international subsidiaries in the United Kingdom, India and
44m
21h
09 Nov
We're exhibiting at #CHC16 next week in Kansas
City. Come visit us at booth #326 and experience
our #patientflow demo! #cerner
Tacos, pizza and teammates: we had a blast last
night at Right Brain Brewery! #TeamVersus
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to prevent #workplaceviolence incidents like this
one: hubs.ly/H056ZDL0
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@VersusTech
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The nurse, Sandra Giancarlo, claimed she s
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Versus
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2. 11/10/2016 Midmark to Acquire Versus Technology, Inc.
http://www.versustech.com/rtls-news/press-releases/midmark-acquire-workflow-technology-firm-versus-technology-inc/ 2/2
Italy. To learn more about Midmark, visit midmark.com or midmarkclinicalsolutions.com, and
follow Midmark on Facebook, LinkedIn, Twitter and YouTube.
About Versus Technology, Inc.
Established in 1988, Versus Technology, Inc. specializes in Real-time Locating Systems (RTLS)
for healthcare. Used by more than 800 hospitals for enterprise patient tracking, bed
management, asset tracking, and nurse call automation, Versus improves patient flow and
documentation of caregiver and patient interactions, while enhancing communication and
efficiency. The Versus infrared (IR), Active RFID and Wi-Fi solution is responsible for enterprise
visibility, clinical-grade location and automation at hospitals, clinics, surgery centers and senior
care facilities worldwide. To learn more about Versus Technology, Inc., our technology and client
successes, visit versustech.com.
Safe Harbor Provision
This release may include forward-looking statements which “bespeak caution,” and which are
subject to risks and uncertainties that could cause actual results to differ materially from the
forward-looking statements. The statements are made only as of the date of this release, and
Versus undertakes no obligation to update them to reflect subsequent events or circumstances.
Investor/Analyst Contact:
Joseph Winowiecki
Chief Financial Officer
Versus Technology, Inc.
231.946.5868
joew@versustech.com
###
Author: Versus
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