SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
MERRICK VENTURE MANAGEMENT HOLDINGS, LLC

(Last) (First) (Middle)
350 NORTH ORLEANS STREET,
10TH FLOOR

(Street)
CHICAGO IL 60654

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MERGE HEALTHCARE INC [ MRGE ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/14/2013
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/18/2013 D(1) 1,716,609 D $2.7899 22,105,857 D
Common Stock 03/18/2013 D(2) 189,566 D $2.7899 0 D
Common Stock 03/18/2013 D(3) 0 D $0 27,631,298 I See footnote(4)(5)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Put option (right to sell) $2.7899 03/14/2013 P(6) 1 03/14/2013 03/29/2013 Common stock 1,906,175 $0(6) 1 D(7)
Put option (right to sell) $2.7899 03/18/2013 C(6) 1 03/14/2013 03/29/2013 Common stock 1,906,175 $0(6) 0 D(7)
1. Name and Address of Reporting Person*
MERRICK VENTURE MANAGEMENT HOLDINGS, LLC

(Last) (First) (Middle)
350 NORTH ORLEANS STREET,
10TH FLOOR

(Street)
CHICAGO IL 60654

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Merrick Venture Management, LLC

(Last) (First) (Middle)
350 NORTH ORLEANS STREET
10TH FLOOR

(Street)
CHICAGO IL 60654

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
FERRO MICHAEL W JR

(Last) (First) (Middle)
350 NORTH ORLEANS STREET, 10TH FLOOR

(Street)
CHICAGO IL 60654

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Merrick Venture Management Holdings, LLC ("Holdings") disposed of the common stock disclosed herein in connection with the exercise of the derivative securities owned by its affiliate, Merrick Venture Management, LLC ("MVM") and disclosed on Table II of this Form 4, in settlement of a debt of MVM as described in footnote 5 below.
2. MVM disposed of the common stock disclosed herein in connection with the exercise of the derivative securities owned by it and disclosed on Table II of this Form 4.
3. As described in footnote 4 below, Mr. Ferro may be deemed to have beneficially owned the securities disposed of by Holdings and MVM in the transaction described above.
4. Mr. Ferro may be deemed to beneficially own the securities disposed of by Holdings and MVM disclosed in this Form 4. Mr. Ferro is the Managing Member of Holdings, and he and trusts for the benefit of his family members own all of the equity interests in Holdings. As a result of the foregoing, Mr. Ferro indirectly controlled the securities disclosed herein that were owned by Holdings. Mr. Ferro disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. In addition, Mr. Ferro is the Chief Executive Officer and Managing Member of MVM, and he and trusts for the benefit of his family members own all of the equity interests in MVM. As a result of the foregoing, Mr. Ferro indirectly controls the securities disclosed herein that were owned by MVM. Mr. Ferro disclaims beneficial ownership of the securities owned by MVM and disclosed herein except to the extent of his pecuniary interest therein.
5. Includes 4,925,441 shares of Merge common stock owned by Merrick Ventures, LLC. Mr. Ferro disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. Includes 600,000 options to purchase Merge common stock currently exercisable or exercisable within sixty (60) days of the date hereof.
6. MVM obtained the right to deliver shares of common stock in settlement of the outstanding balance of a promissory note entered into by MVM in exchange for securities of a private company and the delivery of shares of common stock in settlement thereof.
7. Directly owned by MVM and indirectly owned by Mr. Ferro. For an explanation of Mr. Ferro's indirect ownership of the derivative securities described herein, see footnote 4 above.
Remarks:
/s/ Michael W. Ferro, Jr. for MERRICK VENTURE MANAGEMENT HOLDINGS, LLC 03/18/2013
/s/ Michael W. Ferro, Jr. for MERRICK VENTURE MANAGEMENT, LLC 03/18/2013
/s/ Michael W. Ferro, Jr. 03/18/2013
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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