Eastman Kodak Health Imaging has completed its acquisition of dental practice management software provider PracticeWorks of Atlanta. As part of the deal, the Rochester, NY-based developer also acquired PracticeWorks subsidiary Trophy Radiologie of Paris, a vendor of dental digital radiographic imaging systems.
Kodak paid $468 million for PracticeWorks and assumed net debt of approximately $18 million. As a result of the transaction, holders of PracticeWorks common stock will receive $21.50 for each share, and the company’s Series B preferred stockholders will receive $7.33 for each share of Series B preferred stock.
Both PracticeWorks and Trophy Radiologie will be held as separate subsidiaries to maintain focus on the success of the individual businesses, according to Kodak. The two companies and their product portfolios are now part of the dental systems strategic product group in Kodak’s Health Imaging division.
By AuntMinnie.com staff writersOctober 8, 2003
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