Kodak Completes Acquisition of OREX Radiography, Ltd.ROCHESTER, N.Y. -- Eastman Kodak Company today announced the completion of its acquisition of OREX OREX Orbital Reentry Experiment (Japan) Computed Radiography Ltd., a leading provider of compact, robust computed radiography systems that enable medical practitioners to acquire patient x-ray images digitally. Kodak paid $51.3 million in cash at closing to acquire privately held OREX. The purchase price is subject to adjustment based upon the final closing balance sheet, which will be audited after the closing. OREX has become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Kodak and operates within Kodak's Health Group. With 84 employees worldwide, OREX will remain in its principal location in Yokneam, Israel. The technology and innovation behind the hardware and software that make up OREX's small format computed radiography (CR) products have resulted in one of the most versatile and flexible compact CR systems on the market. OREX manufactures and markets these systems for specialty markets, such as orthopedics, imaging centers and dentistry. Customers in another market Kodak serves also use CR systems from OREX--industrial non-destructive testing (NDT NDT Newfoundland Daylight Time ) organizations, such as pipeline companies, foundries and aerospace manufacturers. About OREX OREX was founded in 1996 as Digident with a focus on developing innovative CR solutions for general dental and orthodontist orthodontist /or·tho·don·tist/ (-don´tist) a dentist who specializes in orthodontics. or·tho·don·tist n. A person who specializes in orthodontics. practices. In 2000, the company was renamed OREX Computerized Radiography with an expanded mission to address the wide range of medical applications for D-CR. To date, almost 4,000 OREX D-CR medical and dental systems have been installed around the world. OREX is headquartered in Yokneam, Israel, with U.S. headquarters in Auburndale, Mass. For more information about OREX, visit their website at www.orex-cr.com About Kodak's Health Group Kodak's Health Group, with 2004 revenues of $2.68 billion, is a world leader in supplying the medical and dental professions with advanced healthcare products, services and information technology (IT) solutions. Its broad product portfolio includes picture archiving and communications systems (PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. ), radiology information systems (RIS RIS rabies inhibiting substance. ), enterprise and departmental healthcare information systems, computed radiography (CR) and digital radiography digital radiography Imaging A format for producing x-rays in which film used to produce conventional x-ray images is replaced with more sensitive sensitive electronics; DXRs produce images with1⁄2 (DR) systems, laser imagers, mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her systems, x-ray film systems for general radiography, and dental imaging products. Its broad services portfolio includes everything from repair and maintenance, to professional services encompassing equipment integration, business consulting, storage and archiving, secure e-mail services - and more. Kodak's Health Group and Eastman Kodak Company's (NYSE NYSE See: New York Stock Exchange : EK) other major businesses: Graphic Communications - offering on-demand color and black and white printing, wide-format inkjet printing, high-speed, high-volume continuous inkjet printing, as well as document scanning, archiving and multi-vendor IT services; Digital & Film Imaging Systems - providing consumers, professionals and cinematographers with digital and traditional products and services; and Display & Components - which designs and manufactures state-of-the-art organic light-emitting diode Noun 1. organic light-emitting diode - a self-luminous diode (it glows when an electrical field is applied to the electrodes) that does not require backlighting or diffusers OLED displays as well as other specialty materials, and delivers imaging sensors to original equipment manufacturers--together are committed to a digitally oriented growth strategy. For more information about Kodak's Health Group, contact your Kodak representative or visit www.kodak.com/go/health. |
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