Rochester, N.Y. – Carestream Health is for sale.
Reuters reports the medical imaging company based in Rochester is looking for a buyer. Carestream was created in 2007 when it was spun off from Kodak. Onex, a private equity firm, paid $2.3 billion. It’s hoping to get up to $3.5 billion in a sale.
Carestream has about 1,200 workers at facilities downtown and at Eastman Business Park.
“Onex is the type of company that buys and runs and keeps healthy companies,” said George Conboy of Brighton Securities. “If Onex is selling Carestream, the concern is it’s not healthy enough to meet their standards. And if Carestream’s not healthy it could mean job cuts.”
Conboy said a worst-case scenario is a company that would “strip and flip” Carestream. “A more troubling path is a new owner comes in that is interested in breaking up the company and selling it for parts.”
A Carestream spokesman had no comment. Reuters reports bids will come in this week.
