Eastman Kodak Health Imaging of Rochester, NY, plans to expand its line of dental radiology offerings with the pending acquisition of PracticeWorks, a developer of physician practice management software for dental offices. PracticeWorks of Atlanta also offers dental digital radiography systems through its December 2002 acquisition of Trophy Radiologie of Paris. PracticeWorks currently has 61,000 U.S. and 6,000 European clients.
Under the agreement, Kodak will acquire all outstanding shares of PracticeWorks for approximately $500 million in cash. The company expects the acquisition will increase revenue by $215 million in the first year and add to earnings per share after 2005.
The agreement is subject to regulatory approvals and to approval by PracticeWorks shareholders. Pending these approvals, the deal is expected to close by the end of 2003, said Kodak.
By AuntMinnie.com staff writersJuly 22, 2003
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