Carestream Health
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Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Carestream Health, Inc., formerly Eastman Kodak Company's Health Group, is an American medical imaging company, owned by Canadian investment firm Onex Corporation.[1]
History
Recently, Moody’s Investors Rating Service “downgraded” the Carestream Health financial outlook to negative from stable. Showing a credit rating of Caa1 with a Probability of Default.[2][3]
In 2007, the Kodak Health Group was sold to Onex Corporation for $2.35 billion in cash.[4][5] Around 8,100 employees transferred to Onex, and Kodak Health Group was renamed Carestream Health. In April 2017, Carestream Health announced an agreement to sell its Dental Digital business to private equity firms Clayton, Dubilier & Rice and the Hillhouse Capital Management group, part of CareCapital Advisors Limited. Carestream Dental provides imaging systems and practice management software for general and specialist dental practices. The dental X-ray film and anesthetics business were not included in the agreement and remain with Carestream Health.[6] On September 28, 2022 Carestream Health filed for Chapter 11 bankruptcy.[7][8] Carestream continues to have financial difficulty and stability as shown with the closure of the Colorado plant in February of 2024. [9]
According to Carestream the declining analog print business accounts for almost half of its revenues. Since 2018, Carestream annual revenues declined by $100m. The other half of its revenues are attributed to its digital medical systems but are less profitable than its declining print business. [10]
Products
The Carestream Health flagship product, DRX-Revolution, has been recalled by the FDA multiple times. The popular product has been reported to have unexpected and spontaneous internal system fires resulting in clinicians and patients exposed to toxic smoke in common areas. [11]
Products include: photothermographic laser imagers, photothermographic imaging film, computed radiography systems, digital radiography systems,[12] and other diagnostic imaging systems for the medical and dental imaging fields. Carestream Health owns more than 800 patents for medical and dental imaging technology. Digital imaging technologies include the DRX-1 series, which allows a wireless connection between the digital X-ray detector and computer system (whether part of their static system or a mobile/portable radiography system).[13][14]
Medical and Dental Products
- Radiology department products for X-ray products and digital image processing, including: Digital radiography rooms and mobile/portable X-ray for general X-ray; Computed Radiography for general X-ray and mammography applications; and X-ray film for general and mammography applications.[12][15]
- Medical printing products , including: photothermographic printers using dry film technology.[16]
Non-Medical Products
- Contract manufacturer / Precision coating offerings, including coating; pilot coating and development; hard coating; PET manufacturing; TPU film manufacturing; solution preparation and delivery; analytical and quality testing; and converting and packaging.[17]
- Non Destructive Testing Products, including: Computed Radiography and X-ray film.[18]
References
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- ↑ Script error: No such module "citation/CS1".
- ↑ Carestream Health, Inc. -- Moody's changes Carestream Health's outlook to negative; affirms B3 CFR
- ↑ Moody’s downgrades radiology vendor Carestream, citing ‘weaker than expected’ performance after exiting bankruptcy
- ↑ Script error: No such module "citation/CS1".
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- ↑ Carestream’s Recapitalization Plan Confirmed By Court
- ↑ Carestream Health files for Chapter 11 bankruptcy protection — Financier Worldwide
- ↑ Carestream Prepares for the Closure of its Manufacturing Site in Windsor Colorado
- ↑ Medical imaging company Carestream Health files Chapter 11 bankruptcy | Reuters
- ↑ Class 2 Device Recall Carestream Health DRXRevolution Mobile XRay System
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- Pages with script errors
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- Health information technology companies
- Companies based in Rochester, New York
- Health care companies established in 2007
- American companies established in 2007
- Dental companies
- Medical imaging
- Medical technology companies of Canada
- Kodak
- Canadian companies established in 2007
- Onex Corporation
- Corporate spin-offs
- Companies that filed for Chapter 11 bankruptcy in 2022