Carestream Health

Carestream Health is a manufacturer of medical solutions, founded in 2007 as a result of the acquisition by the Onex investment corporation of the Health Imaging division, which was part of the Kodak group, for $2.35 billion. Carestream Health manufactures X-ray film, radiographic systems, medical image archiving and transmission systems, imaging solutions in mammography, etc. The company owns more than 800 patents in medical and dental imaging, as well as information technology.

History

2019: Philips bought IT medicine unit from Carestream Health

In early March 2019, Carestream Health signed an agreement Philips Healthcare to sell its information systems division. health care The value of the transaction was not disclosed.

The IT division of Carestream provides imaging solutions to multidisciplinary hospitals and specialty medical clinics around the world.

The head of medical IT solutions at Carestream, Ludovic D'Aprea, said the unit sold to Philips would receive "huge opportunities for prosperity and growth."

In early March 2019, Carestream Health signed an agreement with Philips to sell its health information systems division

As a result of this transaction, the Philips IT healthcare branch will have at its disposal the corporate visualization platform Carestream, diagnostics tools, multimedia reporting, document management tools, as well as clinical, operational and business analytics tools. In turn, the IT division that joined Philips will have more opportunities for prosperity and growth. Customers will have access to a broader portfolio of healthcare IT solutions that will simplify medical imaging, enable effective collaboration, and improve patient care.

Carestream's IT medicine division employs 1,250 people, with a spokesman saying most of those jobs will continue. In addition, Carestream will retain the medical imaging and NDT-based structures that will not be affected by the sale.

Companies will be able to close the deal when they get all the necessary government approvals, consider proposals from manufacturing councils and unions and meet all preconditions. This is expected to happen in the second half of 2019, and until then the companies will continue to operate independently. Additional terms of the contract were not disclosed.^[1]

2018

David Westgate is the new CEO of Carestream Health

In July 2018, Carestream Health named David Westgate as the company's new president, CEO and chairman. Read more here.

Obtaining 79 patents

On January 23, 2018, Carestream Health reported that it received a total of 79 new patents for the latest healthcare IT developments in 2017.

The company received 36 patents from the United States Patent and Trademark Office and 43 additional patents from the respective European and Asian country directorates. The patents cover a wide range of new technologies used in radiology, cone beam computed tomography, health information systems, and other fields.

Carestream is involved in the development of advanced imaging technologies and information systems for healthcare around the world, "says Susan Parulski, head of the Carestream Patent Board. - We provide new products and services that can improve image quality and performance, as well as offer new opportunities to improve the quality of service.

The company's new patents include:

• new medical imaging technologies related to the development of cone beam computed tomography (CT) systems designed to create orthopedic limb prostheses;

• improvements in the portfolio of Carestream IT systems that manage, store, and communicate patient data and the results of medical imaging research methods;

• promoting new technologies in Carestream radiological systems that should improve the quality of images used for diagnosis by a wide range of health care providers;

• updates to Carestream laser devices providing affordable digital X-ray output to medical film and paper.

In 2017, the company's product portfolio included new digital imaging systems for general radiology and its specialty areas such as orthopedics and pediatrics, digital laser devices for film and paper imaging, and IT solutions and cloud services for hospitals, clinics and practitioners.^[2]

2017: Dental Business Sale

In April 2017, Carestream Health announced the sale of a division of Carestream Dental specializing in the development and sale of dental equipment that is used in prosthetics, implantation and various orthodontic work.

Funds run by two private equity firms Clayton, Dubilier & Rice and CareCapital Advisors buy the business. The value of the transaction, which is scheduled to close in the third quarter of 2017, has not been disclosed.

Carestream Health Sells a Division of Carestream Dental Specializing in the Development and Sale of Dental Equipment

The agreement assumes that Carestream Dental will become an independent company and will continue to operate in the market under this name. President of Carestream Dental Lisa Ashby (Lisa Ashby) will become the CEO of the new company after fulfilling all the formalities of the sale of the division of Carestream Health.

Lisa Ashby called the sale of the dental business to Carestream Health "a landmark moment for Carestream Dental, which will steer the company towards exciting growth in the future."

Carestream Dental produces highly specialized equipment for restoration, restoration, carrying out any other orthodontic activity, radiological studies, as well as software and consumables. The company offers five types of products:

• Technique for dental repair;
• Tools for orthodontic work;
• Devices for 3D scanning and reproduction of skull structures, oral bones and jaws;
• Consumables, including special films based on Kodak Dental Films, outdoor tools, screens, cassettes, chemicals, accessories and accompanying goods;
• X-ray equipment.

Clayton, Dubilier & Rice and CareCapital Advisors will move all of these assets except dental radiograph film and anaesthetic products.^[3]

2016

Registration of 100 patents

On January 17, 2017, Carestream Health announced that it had received about 100 patents worldwide in the previous year. Much of the technology the company has registered as its intellectual property concerns medical imaging.

In 2016, the U.S. Patent and Trademark Office (USPTO) issued 43 patents to Carestream Health describing technologies in radiography, computed tomography, IT medicine, medical imaging in dentistry, etc.

Carestream Health Office in Italy

Another 52 patents are registered in European and Asian countries. These documents focus on clinical imaging technologies, which are particularly used for computed tomography in orthopedic treatment. The company's development portfolio also includes medical IT systems for managing, storing and sharing patient data, as well as for conducting research in the field of medical imaging.

In addition, Carestream Health reported the existence of patents addressing technological advances in radiological systems and laser imaging devices. Finally, there are those in the patent portfolio that will help create new features in dental imaging, imaging software, and dental restoration systems.

These patents demonstrate the further development of Carestream's success in developing technologies for advanced medical imaging and healthcare in general, which are used by institutions around the world, says Susan Parulski, legal adviser for patent affairs at Carestream Health. - We strive to create new products and services that can improve image quality, increase productivity and offer new opportunities to improve the quality of medical care.[4]

Company Listing Information by Parts

In mid-May 2016, Reuters, citing informed sources, reported that Carestream Health was put up for sale by the owner of Onex, who expects to earn more than $3 billion on the deal, taking into account the debts of the controlled company. It is planned to be sold in parts.

According to the publication, Carestream Health turned to Goldman Sachs Group for help in finding a buyer for the entire company and a business to release digital medical imaging solutions. Jefferies specialists have also been hired to assist in the sale of the division responsible for the development of dental imaging systems.

Carestream Health wants to sell for $3 billion

For the first time, rumors about the sale of Carestream Health appeared in 2013. Then the owners of the company decided not to rush to conclude a deal, since they received insufficiently high offers from private investment firms. Low valuations from potential buyers were linked to the challenges of switching from X-ray films to digital technology, Reuters reported.^[5]

2015:9% revenue cut to $2.1 billion

In 2015, Carestream Health received $2.1 billion in revenue, down 9% from a year earlier. Earnings before taxes, interest, depreciation and amortisation (EBITDA) amounted to $360 million.

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