Eastman Kodak Company announced today it has entered into an agreement to acquire Orex Computed Radiography, a provider of computed radiography systems that enable medical practitioners to acquire patient x-ray images digitally.
Under the agreement, Kodak will acquire privately-held Orex for approximately $50.5 million in cash, subject to regulatory and other approvals. Kodak anticipates that Orex will add approximately $32 million to its revenue in 2005. In 2004, Orex’s revenue totalled approximately $28 million.
Orex’s patent-pending technology/concept is based on a compact, high quality CR unit (laser scanner) that allows technicians to transfer phosphor plate x-ray images to a DICOM 3.0 compatible digital computer format. The phosphor plates eliminate the need for expensive, non-reusable film. The Orex D-CR solutions include laser scanners and phosphor plates and a PC-based QC reviewing station.
The products are used in specialty markets, such as orthopaedics, diagnostic imaging centres and dentistry.
Almost 4,000 Orex systems have been installed in medical facilities across the world. To date, the company has also sold some 250 of these CR units to branches of the US military.
CR systems from Orex are also used by industrial radiographers. Kodak’s Non-Destructive Testing (NDT) unit, which designs and produces innovative digital and film-based NDT solutions, will market Orex CR systems to this sector.