Reuters: Onex puts Carestream up for sale By DrBicuspid Staff
February 26, 2013 -- Reuters is reporting that Carestream Health has been put up for sale by Onex, with the Canadian private equity firm hoping to sell the business for $3.5 billion.
Onex has retained Goldman Sachs Group and Bank of America Merrill Lynch to find a buyer for Carestream, which it formed when it bought Eastman Kodak's medical imaging division for $2.35 billion in 2007. The sale would be accomplished through an auction, with first-round offers due this week, according to the Reuters article.
The sale has drawn the attention of private equity firms, with industry buyers "less likely to participate," according to Reuters. Carestream has about $450 million in earnings before interest, taxes, depreciation, and amortization (EBITDA), the article stated.
A Carestream spokesperson declined to comment on the story. Representatives from Onex were not available for comment as of press time.
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Last Updated 2/26/2013 2:26:41 PM
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