Jan 19, 2005

Kodak is paying $50.5 million US for Israeli health-imaging company

ROCHESTER, N.Y. (AP) - Photography icon Eastman Kodak Co., extending its reach in the fast-growing digital realm of medical imaging, said Tuesday it is buying its third Israel-based company in 15 months for $50.5 million US.

The deal to acquire Orex Computed Radiography Ltd., expected to be completed by March, will boost Kodak's revenues by an estimated $32 million in 2005. Privately owned Orex, founded in 1996 and based in Yokneam, Israel, had $28 million in sales last year and employs 84 people.

Kodak already makes large, high-cost computed-radiography systems that enable hospitals to acquire X-rays digitally. But Orex has carved out a niche in orthopedics, dentistry and diagnostic imaging centres for compact models that fit on a table and range in price from $40,000 to $60,000.

The buyout "is in strategic alignment with plans to market our digital medical imaging and information products to customers in specialty medical markets worldwide," said Dan Kerpelman, president of Kodak's health-imaging division.
Click to read the rest of this article...