Kodak
Completes Acquisition of Algotec Systems Ltd.
ROCHESTER,
N.Y., Nov. 26 - Eastman Kodak Company today announced the completion of
its acquisition of Algotec Systems Ltd., a leading developer of advanced
picture-archiving-and-communications systems (PACS), which enable radiology
departments worldwide to digitally manage and store medical images and
information
Kodak
acquired privately held Algotec for $42.5 million in cash.
Algotec, with
70 employees worldwide, is based in Raanana, Israel, which will remain
its principal location.
Kodak and Algotec
have had a close relationship since May 2002. At that time, the two companies
signed an agreement under which Algotec began providing supplemental software
for the development of Kodak's PACS products. Algotec, now a wholly owned
Kodak subsidiary, will continue to support development of these products
for Kodak's Health Imaging Group.
The innovative
KODAK DIRECTVIEW PACS System 5, currently rolling out in the market, is
the result of the companies' collaboration.
About Kodak's
Health Imaging Group
Kodak's Health Imaging Group is a world leader in developing, manufacturing
and marketing intelligent imaging products from analog to digital. Its
portfolio includes computed radiography (CR) and digital radiography (DR)
systems, laser imagers, picture archiving and communications systems (PACS),
radiology information systems (RIS), traditional mammography and x-ray
film systems, dental imaging products and various services offerings.
The group, with 2002 revenues of $2.27 billion, has served the global
healthcare community for more than 100 years.
The Health Imaging
Group and Kodak's other major businesses-Commercial Printing; Commercial
Imaging; Display & Components; and Digital & Film Imaging Systems-together
are leading participants in infoimaging, a $385 billion industry created
by the convergence of image-and-information technology. Infoimaging unites
three closely related imaging markets that enable end users to more easily
capture, process and share images and information: devices (such as Health
Imaging's CR and DR systems), infrastructure (online networks and delivery
systems for images, including PACS) and services & media (software,
film and paper).
For more information
about Kodak's Health Imaging Group, contact your Kodak representative
or visit Kodak's web site at www.kodak.com/go/health.
Kodak is a trademark
of Eastman Kodak Company.
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