Carestream Health Completes Sale of Healthcare IT Businessto Philips in Majority of Countries

CarestreamCarestream Healthhas completed the sale of the company's healthcare information solutions business to Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, in 26 of the 38 countries in which it operates.

Healthcare providers around the world will now have access to a broader portfolio of healthcare IT systems from Philips to simplify medical image management, enable effective collaboration and enhance patient care.

Carestream Health will continue to focus on growing its market leadership in medical imaging systems and X-ray equipment; medical and dental films; non-destructive testing films and industrial imaging systems; and precision coating services, all of which are not impacted by the sale. These highly successful global businesses will continue to operate as Carestream with the Carestream brand.

With a sharper focus on serving customers and continuous improvement in its operations, Carestream is committed to enabling healthcare providers to deliver enhanced patient care more cost effectively by delivering breakthrough innovations and compelling new products.

Philips will move ahead with the integration of the two businesses. Close to 1000 employees associated with Carestream’s healthcare information solutions businesswill be transferred to Philips upon the completion of the transaction in the course of 2019.

Additional terms of the closing transaction were not disclosed.

About Carestream Health

Carestream is a worldwide provider of medical imaging systems; X-ray imaging systems for non-destructive testing; and precision contract coating services for a wide range of industrial, medical, electronic and other applications - all backed by a global service and support network.

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