The U.S. Bankruptcy Court for the District of Delaware has confirmed Carestream Health's Chapter 11 restructuring plan.
Carestream expects to successfully complete its recapitalization process and emerge from Chapter 11 reorganization in coming days. Upon emergence, Carestream said it will eliminate approximately $470 million of debt and move forward with a significantly strengthened balance sheet to support its operations and the continued execution of its strategic priorities.
Carestream voluntarily filed for Chapter 11 bankruptcy protection in August as part of the final phase of a planned recapitalization process.
