Attached files

file filename
10-Q/A - MERGE HEALTHCARE INC 10-Q A 3-31-2012 - MERGE HEALTHCARE INCform10qa.htm
EX-32 - EXHIBIT 32 - MERGE HEALTHCARE INCex32.htm
EX-31.2 - EXHIBIT 31.2 - MERGE HEALTHCARE INCex31_2.htm
EX-31.1 - EXHIBIT 31.1 - MERGE HEALTHCARE INCex31_1.htm

Exhibit 10.1
 
March 22, 2012
 
Khan M. Siddiqui, M.D.
Chief Executive Officer
higi llc
350 N. Orleans Street
Chicago, Illinois  60654
 
Re:
Agreement Between higi llc, an Delaware corporation (“higi”), and Merge Healthcare Solutions Inc., a Delaware corporation (“Merge”), for the Purchase and Sale of Merge Motion Kiosks (“Kiosks”)
 
Dear Khan:
 
The purpose of this letter, effective as of the date written above (the “Effective Date”), is to memorialize the agreement and understanding between higi and Merge (each a “Party” and, collectively, the “Parties”) regarding higi’s purchase of Merge’s kiosks as identified in Exhibit A (the “Kiosks”), subject to the terms and conditions we describe in herein letter (the “Agreement”).  In consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged by each of the Parties, the Parties hereby stipulate, covenant and agree as follows:
 
1.           Purchase and Sale.  Subject to the terms and conditions of this Agreement, higi shall purchase from Merge, and Merge shall sell, transfer and assign to higi, all of Merge’s rights, title and interests in and to the Kiosks including the software license granted below.  Higi shall be responsible for the cost of insurance from the manufacturer’s point of origin.  Merge shall deliver Kiosks and the software license granted below to higi at a location and date as specified by higi but in any event no later than March 30, 2012.
 
2.           Purchase Price.  The purchase price includes those parts and materials as set forth on Exhibit B, the Bill of Materials and Specifications.  The purchase price shall be Five Thousand Five Hundred U.S. Dollars ($5,500) per Kiosk and shall include shipping costs to the warehouse location in Colorado.  Higi shall be responsible for payment of insurance costs during shipment as set forth above. No later than close of business on March 30, 2012, higi shall pay to Merge the amount of Two Million Seven Hundred Fifty Thousand U.S. Dollars ($2,750,000) for the Machines purchased hereunder in immediately available funds.

3.           Software License; Warranty.  Merge hereby grants to higi a perpetual, royalty-free license to use the Merge software included with each Kiosk.  Furthermore, Merge shall grant higi a perpetual, royalty-free license to use the included programs, drivers and software for all components in each Kiosk and a perpetual, royalty-free license to develop tothe application programming interfaces of each component in the Kiosk consistent with the specifications developed and agreed to by higi and Merge. Merge represents that the software will be consistent with those specifications upon delivery and installation of the software. Merge represents and warrants that the software will include licenses for any embedded third party software for use consistent with the specifications.

Merge Healthcare warrants that the software shall perform in substantial conformity with the specifications and the documentation and that the media on which the Software is delivered shall be free of defects in material and workmanship for a period of ninety (90) days from the date of delivery of the gold copy. The preceding warranty is conditional upon unmodified software and that the software is properly used on the hardware and with the operating system for which it was designed. The preceding warranty shall be void if failure of the software has resulted from accident, abuse, misapplication, or installation of any third party software that has not been approved by Merge Healthcare.  Upon the purchase of support services from Merge, such software warranty shall continue through the period of support purchased from Merge by higi.
 
200 E. Randolph Street, Suite 2435  |  Chicago, IL  60601  |  P: 312.565.6868  |  F: 312.565.6870
 
 
 

 

4.           Hardware: Pass-Through of Manufacturer Warranties.  Merge Healthcare provides no warranty on hardware and instead assigns and will pass-through to higi, to the fullest extent permitted by law and by the terms and conditions of third-party manufacturer warranties, if any.  All manufacturer warranties on the hardware and this Agreement shall serve as an assignment from Merge Healthcare to higi of any such warranties.

5.           Additional Kiosks and Support Services Options.
 
 
a.
Additional Kiosk Procurement.  For a period of five (5) years from the execution of this Agreement (the “Option Term”), higi may procure additional kiosks under the following terms.
 
 
i.
Purchase Option.  higi may purchase additional kiosks during this five (5) year term at a purchase price of Five Thousand Five Hundred U.S. Dollars ($5,500) per additional kiosk.  Such price shall include a perpetual license to use of the software included with the kiosk.  In the event that the costs related to the specifications or Bill or Materials changes significantly from that set forth in Exhibit B and the cost of such materials is materially affected, the parties to this Agreement shall update the purchase price proportionally with the change in Bill of Materials.
 
 
ii.
Lease Option.  In the alternative to purchasing such additional kiosks, higi may lease additional kiosks for a lease term of five (5) years per kiosk at the amount of One Hundred Twenty-Five U.S. Dollars ($125) per month (inclusive of Optional Support Services), and will adjust proportionally with the change in Bill of Materials as provided in Section 7.a.i. In the event that higi chooses to lease any additional kiosks, the parties expressly acknowledge and agree that they will negotiate and execute an appropriate lease agreement at that time.
 
 
b.
Optional Support Services.  higi may at its option purchase support services from Merge at Merge’s current pricing of $30 per month, per kiosk.  Support services shall include labor, parts (replacement) and kiosk maintenance as needed plus an annual maintenance if no other service has been required.  Upon the purchase of these services from Merge, it shall also correct software bugs and performance issues at no additional cost to higi.  Support services also include software updates and upgrades.

Merge support pricing shall be offered at this price and shall not be subject to change for a period of five (5) years from the date hereof.  higi may exercise this option to purchase support services at any time during this five (5) year period at this pricing in any quantities desired.  In the event that higi elects to purchase such support services during this five (5) year period, higi shall provide thirty (30) days advance written notice of its desire to so exercise this option.  Upon receipt of such notice, Merge shall then invoice higi for the appropriate amount and such invoice shall be due and payable to Merge thirty (30) days in advance of the start of the support services.

6.           Mutual General Release.  Each Party on behalf of itself and any other party, person or entity claiming under or through it, hereby generally releases, discharges and acquits each other Party, and its respective current and former agents, servants, officers, directors, shareholders, employees, subsidiaries, divisions, branches, units, affiliates, parents, attorneys, successors, predecessors, heirs, personal representatives, and assigns (each of the foregoing, a “Released Party”), from all manners of action, causes of action, judgments, executions, debts, demands, rights, damages, costs, expenses, and claims of every kind, nature, and character whatsoever, whether in law or in equity, whether based on contract (including, without limitation, quasi-contract or estoppels), statute, regulation, tort (including, without limitation, intentional torts, fraud, misrepresentation, defamation, breaches of alleged fiduciary duty, recklessness, gross negligence, or negligence) or otherwise, accrued or unaccrued, known or unknown, matured, unmatured, liquidated or unliquidated, certain or contingent, that such releasing Party ever had or claimed to have, or now has or claims to have presently or at any future date, against any Released Party, provided, however, that neither Party shall be deemed released or discharged from its duties and obligations under this Agreement.

7.           Representations, Warranties and Acknowledgements.

 
a.
Merge represents and warrants to higi that the Kiosks are not be subject to any lien, encumbrance, or security interest of any third party.
 
 
b.
higi acknowledges that it has read this Agreement and has had a reasonable period of time to consider this Agreement.  higi further acknowledges that it understands all the terms and conditions of this Agreement and has knowingly and voluntarily agreed to those terms, which may not be changed.
 
 
 

 
 
8.           No Third-Party Beneficiaries.  This Agreement shall be for the benefit of the Parties, and none of the provisions of this Agreement shall be for the benefit of or enforceable by any third party.  Nothing in this Agreement is intended to relieve or discharge the obligations or liabilities of any third party to any Party hereto or to give any third party any right of subrogation or action over or against any Party hereto.
 
9.           Governing Law.  This agreement and any question, dispute or other matter between the Parties with respect to or in connection with this agreement shall be governed by and construed in accordance with the laws of the State of Illinois.
 
10.           Successors and Assigns.  All of the terms and provisions of this Agreement shall be binding upon and shall benefit, and be enforceable by, the successors and assigns of the Parties hereto.
 
11.           Entire Agreement.  This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof and supersedes any previous written or oral agreement in connection therewith.
 
12.           Execution.  This agreement may be executed in separate counterparts (including by electronic or facsimile transmission), all of which when so executed shall be deemed to constitute one and the same agreement.
 
By signing this letter, each of higi and Merge confirms that it has agreed to the terms and conditions set forth herein.
 
Very truly yours,
 
MERGE HEALTHCARE SOLUTIONS INC.
 
/s/ Justin Dearborn
 
Justin Dearborn
President & Chief Financial Officer
 
Acknowledged and agreed as to the foregoing.
 
higi llc
 
     
By:  
/s/ Khan M. Siddiqui, MD  
   
Khan M. Siddiqui, MD
 
Its:
  Chief Executive Officer  
     
Date:  
March 28, 2012  

 
 

 
 
EXHIBIT A
 
KIOSKS

KMY120328650-020
KMY120328650-021
KMY120328650-022
KMY120328650-023
KMY120328650-024
KMY120328650-025
KMY120328650-026
KMY120328650-027
KMY120328650-028
KMY120328650-029
KMY120328650-030
KMY120328650-031
KMY120328650-032
KMY120328650-033
KMY120328650-034
KMY120328650-035
KMY120328650-036
KMY120328650-037
KMY120328650-038
KMY120328650-039
KMY120328650-040
KMY120328650-041
KMY120328650-042
KMY120328650-043
KMY120328650-044
KMY120328650-045
KMY120328650-046
KMY120328650-047
KMY120328650-048
KMY120328650-049
KMY120328650-050
KMY120328650-051
KMY120328650-052
KMY120328650-053
KMY120328650-054
KMY120328650-055
KMY120328650-056
KMY120328650-057
KMY120328650-058
KMY120328650-059
KMY120328650-060
KMY120328650-061
 
 
 

 
 
KMY120328650-062
KMY120328650-063
KMY120328650-064
KMY120328650-065
KMY120328650-066
KMY120328650-067
KMY120328650-068
KMY120328650-069
KMY120328650-070
KMY120328650-071
KMY120328650-072
KMY120328650-073
KMY120328650-074
KMY120328650-075
KMY120328650-076
KMY120328650-077
KMY120328650-078
KMY120328650-079
KMY120328650-080
KMY120328650-081
KMY120328650-082
KMY120328650-083
KMY120328650-084
KMY120328650-085
KMY120328650-086
KMY120328650-087
KMY120328650-088
KMY120328650-089
KMY120328650-090
KMY120328650-091
KMY120328650-092
KMY120328650-093
KMY120328650-094
KMY120328650-095
KMY120328650-096
KMY120328650-097
KMY120328650-098
KMY120328650-099
KMY120328650-100
KMY120328650-101
KMY120328650-102
KMY120328650-103
KMY120328650-104
KMY120328650-105
KMY120328650-106
 
 
 

 
 
KMY120328650-107
KMY120328650-108
KMY120328650-109
KMY120328650-110
KMY120328650-111
KMY120328650-112
KMY120328650-113
KMY120328650-114
KMY120328650-115
KMY120328650-116
KMY120328650-117
KMY120328650-118
KMY120328650-119
KMY120328650-120
KMY120328650-121
KMY120328650-122
KMY120328650-123
KMY120328650-124
KMY120328650-125
KMY120328650-126
KMY120328650-127
KMY120328650-128
KMY120328650-129
KMY120328650-130
KMY120328650-131
KMY120328650-132
KMY120328650-133
KMY120328650-134
KMY120328650-135
KMY120328650-136
KMY120328650-137
KMY120328650-138
KMY120328650-139
KMY120328650-140
KMY120328650-141
KMY120328650-142
KMY120328650-143
KMY120328650-144
KMY120328650-145
KMY120328650-146
KMY120328650-147
KMY120328650-148
KMY120328650-149
KMY120328650-150
KMY120328650-151
 
 
 

 
 
KMY120328650-152
KMY120328650-153
KMY120328650-154
KMY120328650-155
KMY120328650-156
KMY120328650-157
KMY120328650-158
KMY120328650-159
KMY120328650-160
KMY120328650-161
KMY120328650-162
KMY120328650-163
KMY120328650-164
KMY120328650-165
KMY120328650-166
KMY120328650-167
KMY120328650-168
KMY120328650-169
KMY120328650-170
KMY120328650-171
KMY120328650-172
KMY120328650-173
KMY120328650-174
KMY120328650-175
KMY120328650-176
KMY120328650-177
KMY120328650-178
KMY120328650-179
KMY120328650-180
KMY120328650-181
KMY120328650-182
KMY120328650-183
KMY120328650-184
KMY120328650-185
KMY120328650-186
KMY120328650-187
KMY120328650-188
KMY120328650-189
KMY120328650-190
KMY120328650-191
KMY120328650-192
KMY120328650-193
KMY120328650-194
KMY120328650-195
KMY120328650-196
 
 
 

 
 
KMY120328650-197
KMY120328650-198
KMY120328650-199
KMY120328650-200
KMY120328650-201
KMY120328650-202
KMY120328650-203
KMY120328650-204
KMY120328650-205
KMY120328650-206
KMY120328650-207
KMY120328650-208
KMY120328650-209
KMY120328650-210
KMY120328650-211
KMY120328650-212
KMY120328650-213
KMY120328650-214
KMY120328650-215
KMY120328650-216
KMY120328650-217
KMY120328650-218
KMY120328650-219
KMY120328650-220
KMY120328650-221
KMY120328650-222
KMY120328650-223
KMY120328650-224
KMY120328650-225
KMY120328650-226
KMY120328650-227
KMY120328650-228
KMY120328650-229
KMY120328650-230
KMY120328650-231
KMY120328650-232
KMY120328650-233
KMY120328650-234
KMY120328650-235
KMY120328650-236
KMY120328650-237
KMY120328650-238
KMY120328650-239
KMY120328650-240
KMY120328650-241
 
 
 

 
 
KMY120328650-242
KMY120328650-243
KMY120328650-244
KMY120328650-245
KMY120328650-246
KMY120328650-247
KMY120328650-248
KMY120328650-249
KMY120328650-250
KMY120328650-251
KMY120328650-252
KMY120328650-253
KMY120328650-254
KMY120328650-255
KMY120328650-256
KMY120328650-257
KMY120328650-258
KMY120328650-259
KMY120328650-260
KMY120328650-261
KMY120328650-262
KMY120328650-263
KMY120328650-264
KMY120328650-265
KMY120328650-266
KMY120328650-267
KMY120328650-268
KMY120328650-269
KMY120328650-270
KMY120328650-271
KMY120328650-272
KMY120328650-273
KMY120328650-274
KMY120328650-275
KMY120328650-276
KMY120328650-277
KMY120328650-278
KMY120328650-279
KMY120328650-280
KMY120328650-281
KMY120328650-282
KMY120328650-283
KMY120328650-284
KMY120328650-285
KMY120328650-286
 
 
 

 
 
KMY120328650-287
KMY120328650-288
KMY120328650-289
KMY120328650-290
KMY120328650-291
KMY120328650-292
KMY120328650-293
KMY120328650-294
KMY120328650-295
KMY120328650-296
KMY120328650-297
KMY120328650-298
KMY120328650-299
KMY120328650-300
KMY120328650-301
KMY120328650-302
KMY120328650-303
KMY120328650-304
KMY120328650-305
KMY120328650-306
KMY120328650-307
KMY120328650-308
KMY120328650-309
KMY120328650-310
KMY120328650-311
KMY120328650-312
KMY120328650-313
KMY120328650-314
KMY120328650-315
KMY120328650-316
KMY120328650-317
KMY120328650-318
KMY120328650-319
KMY120328650-320
KMY120328650-321
KMY120328650-322
KMY120328650-323
KMY120328650-324
KMY120328650-325
KMY120328650-326
KMY120328650-327
KMY120328650-328
KMY120328650-329
KMY120328650-330
KMY120328650-331
 
 
 

 
 
KMY120328650-332
KMY120328650-333
KMY120328650-334
KMY120328650-335
KMY120328650-336
KMY120328650-337
KMY120328650-338
KMY120328650-339
KMY120328650-340
KMY120328650-341
KMY120328650-342
KMY120328650-343
KMY120328650-344
KMY120328650-345
KMY120328650-346
KMY120328650-347
KMY120328650-348
KMY120328650-349
KMY120328650-350
KMY120328650-351
KMY120328650-352
KMY120328650-353
KMY120328650-354
KMY120328650-355
KMY120328650-356
KMY120328650-357
KMY120328650-358
KMY120328650-359
KMY120328650-360
KMY120328650-361
KMY120328650-362
KMY120328650-363
KMY120328650-364
KMY120328650-365
KMY120328650-366
KMY120328650-367
KMY120328650-368
KMY120328650-369
KMY120328650-370
KMY120328650-371
KMY120328650-372
KMY120328650-373
KMY120328650-374
KMY120328650-375
KMY120328650-376
 
 
 

 
 
KMY120328650-377
KMY120328650-378
KMY120328650-379
KMY120328650-380
KMY120328650-381
KMY120328650-382
KMY120328650-383
KMY120328650-384
KMY120328650-385
KMY120328650-386
KMY120328650-387
KMY120328650-388
KMY120328650-389
KMY120328650-390
KMY120328650-391
KMY120328650-392
KMY120328650-393
KMY120328650-394
KMY120328650-395
KMY120328650-396
KMY120328650-397
KMY120328650-398
KMY120328650-399
KMY120328650-400
KMY120328650-401
KMY120328650-402
KMY120328650-403
KMY120328650-404
KMY120328650-405
KMY120328650-406
KMY120328650-407
KMY120328650-408
KMY120328650-409
KMY120328650-410
KMY120328650-411
KMY120328650-412
KMY120328650-413
KMY120328650-414
KMY120328650-415
KMY120328650-416
KMY120328650-417
KMY120328650-418
KMY120328650-419
KMY120328650-420
KMY120328650-421
 
 
 

 
 
KMY120328650-422
KMY120328650-423
KMY120328650-424
KMY120328650-425
KMY120328650-426
KMY120328650-427
KMY120328650-428
KMY120328650-429
KMY120328650-430
KMY120328650-431
KMY120328650-432
KMY120328650-433
KMY120328650-434
KMY120328650-435
KMY120328650-436
KMY120328650-437
KMY120328650-438
KMY120328650-439
KMY120328650-440
KMY120328650-441
KMY120328650-442
KMY120328650-443
KMY120328650-444
KMY120328650-445
KMY120328650-446
KMY120328650-447
KMY120328650-448
KMY120328650-449
KMY120328650-450
KMY120328650-451
KMY120328650-452
KMY120328650-453
KMY120328650-454
KMY120328650-455
KMY120328650-456
KMY120328650-457
KMY120328650-458
KMY120328650-459
KMY120328650-460
KMY120328650-461
KMY120328650-462
KMY120328650-463
KMY120328650-464
KMY120328650-465
KMY120328650-466
 
 
 

 
 
KMY120328650-467
KMY120328650-468
KMY120328650-469
KMY120328650-470
KMY120328650-471
KMY120328650-472
KMY120328650-473
KMY120328650-474
KMY120328650-475
KMY120328650-476
KMY120328650-477
KMY120328650-478
KMY120328650-479
KMY120328650-480
KMY120328650-481
KMY120328650-482
KMY120328650-483
KMY120328650-484
KMY120328650-485
KMY120328650-486
KMY120328650-487
KMY120328650-488
KMY120328650-489
KMY120328650-490
KMY120328650-491
KMY120328650-492
KMY120328650-493
KMY120328650-494
KMY120328650-495
KMY120328650-496
KMY120328650-497
KMY120328650-498
KMY120328650-499
KMY120328650-500
KMY120328650-501
KMY120328650-502
KMY120328650-503
KMY120328650-504
KMY120328650-505
KMY120328650-506
KMY120328650-507
KMY120328650-508
KMY120328650-509
KMY120328650-510
KMY120328650-511
 
 
 

 
 
KMY120328650-512
KMY120328650-513
KMY120328650-514
KMY120328650-515
KMY120328650-516
KMY120328650-517
KMY120328650-518
KMY120328650-519
KMY120328650-520

 
 

 
 
EXHIBIT B

Specifications and Bill of Materials
 
No.
Components
Model
Detail  Description
1
PC Host
Industrial
PC
Industrial Mainboard: ZK-ZB4561 CPU: Onboard Processor INTEL
ATOM D2700 dual core; Memory:kingstone 4GRAM DDR:   HD:500G
Min 6RS-232 ports, 8USB ports,1LTP,1VGA,1LVDS,1 10/100M Net
Port Net Card, Sound Card, Integrated Display Card
Computer case and power supply
2
Top monitor
19”TFT
LCD
Brightness: 300cd/m2; anglehorizontal 100°above, Vertical 80°above
Contrast: 450:1; Backlight tube lifemore than 40,000hours
Operating temperature-20-50oC
Response Time:16msDot pitch: 0.297Max. resolution: 1280×1024
3
Vandal proof glass
 
Tempered Glass,thickness 6mm,for monitor protection
4
Monitor
Industrial
10.4 TFT
LCD
Screen Size 10.4''   Active Display Area (mm) 211.2mm(W)×158.4mm(H)
Display Mode 4:3  LCD Type TFT-LCD Resolution 800×600
Display Color 16.7M  Pixel Pitch(mm) 0.264(H)×0.264(V)
Brightness(nits) 300cd/  Contrast Ratio 500:1
Viewing Angle  125(H) /135(V)  Response Time  30ms   Backlight LED backlights
Interface D-Sub15 pin(VGA),HDMI  Optional interface DVI /BNC
Power DC12V  2A   50HZ/60HZ
Power Consumption  25W (Max)  Plug & Play DDC 1/2B
OSD Control Auto adjust, Brightness, Contrast, Hori. / Vert. Position, Clock, phase, Color, Language..
MENU Chinese/English(other languages supported)
5
Touch screen
Vandal proof  10.4 SAW touchscreen
High Transparence, high precision and durability; RS232 Interface
antirustanti-acidanti-dust
Thickness: 6mm, Max: 4096×4096
Surface Hardness: Mohs' hardness rating of 7
Operating sensitivity<100G; Response Time: 20ms
6
Webcam
OEM
new camera with PCB board, 2.5mm lens
 
 
 

 
 
8
Thermal printer
Epson M-T532
Themal Printer, Paper in-depth80mm,Print Speed: 150mm/s,Automatic cutter; Paper running out alarm; Paper to be run out alarm, Paper jam alarm; Black mark sensor
Interface:Serial Port"
9
Power supply
 
Power Supply HF150W-17 ;  110-240VAC ; Output 24V5A 12V3A power supply for the blood pressure module   output: 9V 4A
10
Swip card reader
Magtek SureSwipe Reader-21040140
MagTek MiniWedge Magnetic Swipe Reader, Sure Swipe, Dual Head, USB Interface, HID B and Tracks 1, 2 and 3, Requires HID Drive
11
Speaker
 
Left and right bi-channel; amplified output; Multimedia speaker
13
3G modem
 
support Sprint network and potentially broadcasting.
14
Blood pressure module
 
Suntech Advantage 2.0
15
Pulse Oxymeter
 
Nonin
16
Load Cell
Load Cell
AH200 C3 SH 10e from Scaime S.A.S(France)
17
Router
Cradlepoint wifi router CBR400-bulk
compact Broadband Router with wifi 400  from Cradlepoint, Inc(USA)
18
Load Cell board
PCB USB Digitizers
DSC Card Industrial USB ASCII from mantracourt(UK)
19
Kinect Camera
Mfg#: MSH-L6M-00001
Kinect Camera from MSFT for Commercial use.Msft Kinect Sensor F/Windows
23
Enclosure
Custom
design
model
Durable steel frame, powder coated steel back covers; Slim and smart design; Easy to install and operate; MoistureproofAntirustAnti-acidAnti-dustStatic free OEM LOGO &color&silkprint& light box& poster  Coat HOOk INLUCDED   SILVER COLOR POWDER COATING
24
OS Software
Licensed Microsoft Windows 7 Professional English EMB 64 bit
25
Shipping Package
Bubble foam, Carton, Wooden case
26
Body Fat Handles
Custom
two stainless handles
27
RFID Reader
 
RFID READER NEWLY ADDED
28
Seat and Arm Rest (Bamboo)
Custom
Wooden panel for seat and arm made of bamboo
29
Seat locking mechanism
 
magnetic lock+controlling board+ open door sensor
30
 
 
Silk Print
31
 
 
cables and other accessories
32
 
 
LED light + Buttons
33
 
 
KMY LABOR COSTS others

 
 

 

EXHIBIT C

BILL OF SALE
 
This Bill of Sale dated as of March 28, 2012 (the “Bill of Sale”) is made and delivered by Merge Healthcare Solutions Inc. (“Merge”) and higi llc (“higi”), in favor of higi.  For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Merge hereby sells, transfers and assigns to higi, all of its rights, title and interests to the Kiosks identified in Exhibit A hereto (the “Kiosks”), including, without limitation, all of Merge’s rights, claims and interests (including security interests and liens) arising under, related to or in connection the Agreement dated as of March 28, 2012.
 
This Bill of Sale and all matters relating hereto shall be governed by and construed in accordance with the internal laws of the State of Illinois.

Seller: 
Merge Healthcare Solutions Inc.
 
200 East Randolph Street, Suite 2435
 
Chicago, Illinois  60601
   
Buyer:
higi llc
 
350 N. Orleans Street
 
Chicago, Illinois  60654
 
 
higi llc
 
       
 
By:
/s/ Khan M. Siddiqui, MD  
     
Khan M. Siddiqui, MD
 
 
Its:
 
Chief Executive Officer
 
 
Date:
 
March 28, 2012