Kodak sells medical imaging group
Kodak, rapidly running out of options, bought itself more time by selling its health operations to Canadian conglomerate Onex Group for $2.6 billion. The unit makes X-ray films and machines, as well as medical mapping equipment.
The move is another step in Kodak's gradual sinking from a top industrial power to a mid-size consumer products company. The company has since 2005 got rid of departure of 27,000 of its 64,000 employees. The move is likely to finance a move into ink jet printers, a high-profit area thanks to consumables costs, and one which its CEO, Antonio Perez, knew from his service at Hewlett-Packard. TEH company has made otehr moves to shore up its digital imaging side,
Onex is publicly traded, but acts much like a private equity company, buying by itself or jointly a variety of businesses including aircraft making, medical imaging, health services, movie theaters, and business outsourcing.
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