Health Systems Solutions Inc. has signed an agreement to purchase Emageon Inc. for approximately $62 million.

Unanimously approved by their respective boards of directors, as well as the Strategic Alternatives Committee of Emageon, the price represents approximately a 37% premium on Emageon’s share price as of market close yesterday.

The merge will result in a company of approximately 400 employees. Current Emageon management will continue to operate the business as they have, except under the HSS group of companies. Also, sales and support functions of both organizations will be maintained.

According to HHS chair and CEO Stan Vashovsky, the transaction positions the company for future growth and enables it “to realize synergies from future acquisitions."

The companies say a factor in the acquisition’s timing is the desire to speed up the delivery of next generation picture archiving and communication systems.

The transaction is subject to approval of a majority of Emageon’s stockholders, as well as certain customary closing conditions.