3/28/07
Eastman Kodak Company will be getting out of the health care industry after the European Union OK’d an agreement to sell its Health Group to Onex Healthcare Holdings Inc.
Onex will purchase the health imaging business for up to $2.55 billion, depending on whether the company meets predetermined returns on the initial investment.
Kodak will use the cash to pay off debt and focus on digital imaging, abandoning the x-ray technology it has been involved with for more than 100 years.
The roughly 8,100 employees associated with the division will continue with the business following the closing.
