KODAK TO INCREASE EQUITY INTEREST IN VORTECH DATA, INC.
KODAK TO INCREASE EQUITY INTEREST IN VORTECH DATA, INC. ROCHESTER, N.Y., Dec. 26 /PRNewswire/ -- Eastman Kodak Company (NYSE: EK) and Vortech Data, Inc., today announced Kodak's intent to increase its minority interest in the Reston, Virginia, company. As part of the new investment, Kodak will have the option to assume controlling interest in 1993. Other terms of the agreement were not announced. Kodak initially invested in Vortech in September 1990. A leading supplier of systems used to manage medical images, Vortech is co-developer and co-marketer of the Kodak Ektascan Imagelink system. The system allows hospitals to store, display and print electronically captured images such as ultrasounds and computed tomography (CT) scans. It is currently being used in several leading institutions in the United States, and will be available in Europe in 1992. "Kodak's increased interest in Vortech is further indication of the strength of the relationship between the two companies," said Carl F. Kohrt, vice president and general manager of Kodak's Health Sciences Division. Allan R. Griebenow, president and CEO of Vortech added, "The additional investment provides the resources for us to fully respond to increased market demand for our joint product offerings utilizing combined Kodak and Vortech engineering and marketing teams." In addition to its headquarters in Virginia, Vortech operates a research and development site in Richardson, Texas. -0- 12/26/91 /CONTACT: Jeanne K. Eason of Eastman Kodak Company, 716-724-1630/ (EK) CO: Eastman Kodak Company; Vortech Data, Inc. ST: New York, Virginia IN: CHM SU: JVN
KD -- CL001 -- 5292 12/26/91 12:29 EST
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|Date:||Dec 26, 1991|
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