Carestream Health gets the picture. The company develops and sells imaging products to help dentists, doctors, and scientists take, process, view, and store images for diagnosis and research. Its medical imaging devices include digital radiography (DR) and computed radiography (CR) systems, as well as specialized systems for mammography and other diagnostics. Carestream Health's dental products include digital and X-ray equipment. Its molecular imaging group makes scientific products used for capturing images at the molecular level. Carestream also offers products to industrial safety and inspection markets. Carestream's products are sold worldwide; the company is owned by private investment firm Onex.
Carestream has operations in Africa, the Asia Pacific region, Europe, the Middle East, and the Americas. Its primary operating locations are in Rochester, New York; Genoa, Italy; and Shanghai, China.
As the current administration's pushes the nation's hospitals to go digital, Carestream is benefiting from the resulting upsurge in demand for IT products that manage and share patient data, such as picture archiving and communication systems (PACS). PACS (one of the company's primary product lines) allow hospitals to store, retrieve, manage, and distribute medical images captured with the company's DR and CR systems, including DR products sold under the DRX brand. Such PACS systems are an integral part of the electronic health record (EHR) system, for which hospitals are set to receive federal incentives to install and use.
Along with PACS, Carestream's lines of products and services combine digital imaging, communications, networking, and other tools to help departments in hospitals become more efficient. It also offers informatics systems, practice management software, and other data management tools.
All of Carestream's X-ray film products are of the KODAK brand, for good reason. The company was previously part of Eastman Kodak Company (prior to being acquired by Onex in 2007). Onex operates Carestream as an independent subsidiary held through its Healthcare Holdings subsidiary. Carestream continues to license the KODAK brand for use with its own products.
Sales and Marketing
Hospitals and other medical providers (large and small) worldwide are the company's primary customer base. Some of its customers include Beth Israel Deaconess Medical Center, Rochester General Health System, Ontario Radiology Group, and Spire Healthcare (UK), as well as group purchasing organizations such as HealthTrust. The company also has a number of federal contracts including with the US Department of Veterans Affairs and the US General Services Administration.
Typically, Carestream grows its products lines by introducing updated or enhanced versions of existing products as well as by researching and developing new products for submission to the FDA. For instance, it launched a new cloud-based eHealth PACS and eHealth portal service in 2011, as well as several upgraded film and detector products. It also conducts occasional acquisitions to broaden its medical imaging equipment.
Meanwhile, the firm pared down its molecular imaging division in 2012 when it sold its preclinical in vivo imaging equipment operations to Bruker for an undisclosed price. Carestream will continue to make in vitro and life science X-ray products for the molecular imaging customer base, which includes research labs.
Mergers and Acquisitions
In 2010 Carestream expanded its range of conventional and digital x-ray systems through the acquisition of Quantum Medical Imaging. And in 2012 it widened its IT offerings through the purchase of Genesis Digital Imaging, a Los Angeles-based imaging software developer that also distributes imaging systems.
Onex acquired Carestream in 2007. The company was previously Eastman Kodak Company's Health Group; following the acquisition, the Health Group was renamed as Carestream. – less