Kodak divests medical imaging unit
This article was originally published in The Gray Sheet
Executive Summary
Eastman Kodak is exiting the medical imaging field with the sale of its Health Group to diversified Canadian conglomerate Onex for up to $2.55 billion - including $2.35 billion in cash and $200 million in potential milestone payments. Onex will seek to grow the business, which includes digital X-ray, molecular and dental imaging systems, as well as X-ray film and software. Kodak's unit, which has annual sales of about $2.54 billion, recorded Q3 sales of $597 million, down 6% from a year ago. The Health Group dovetails with Onex's other health businesses, including diagnostic imaging clinics and emergency care facilities. Kodak plans to focus on digital consumer and professional imaging, as well as graphic communications...