May 2, 2007
Introducing Carestream Health
Onex Corporation of Canada has completed its $2.35 billion acquisition of Eastman Kodak Company's Health Group. The business, now named Carestream Health, has begun officially operating as an independent company with more than 8100 employees worldwide.
With around $2.5 billion in annual sales, Carestream Health offers a suite of advanced imaging systems, services and IT products for the medical and dental professions. The company also develops molecular imaging systems for life science research and drug discovery/development, as well as X-ray products for the non-destructive testing market.
"We have a terrific opportunity for our global organization to meet the growing imaging and information needs of our customers," said Carestream Health's chief executive officer Kevin Hobert.
"We are delighted to acquire a business with an impressive record of successful growth, tremendous opportunities for further value creation and a first-class management team," added Robert M Le Blanc, an Onex managing director. "We and the Carestream Health management team are already exploring initiatives to enhance its market-leading products and services."
With that Kodak legacy, Carestream Health comes with more than 110 years' experience in health imaging, plus over 1000 patents in digital and film imaging and IT. The company claims that its products can be found in approximately 90% of hospitals and dental practices around the world. Carestream also reckons that more than 75% of its revenue comes from products that enjoy a number-one market position.
Carestream Health will continue to use the Kodak brand with its products. The business now owns all former Health Group sub-brands, including Carestream, DirectView, Softdent, Industrex, X-Sight and PracticeWorks.
• See also Onex acquires Kodak's Health Group on medicalphysicsweb.