News | Radiology Business | March 07, 2019

Carestream Health To Sell its Healthcare IT Business To Philips

Companies Share Commitment to Continuous Innovation and Enhancing Patient Care

Carestream Health has signed an agreement to sell its healthcare information systems (HCIS) business to Philips Healthcare. Image by geralt on Pixabay

Carestream Health has signed an agreement to sell its healthcare information systems (HCIS) business to Philips Healthcare. This includes its radiology and cardiology PACS and reporting software. Image by geralt on Pixabay 

Carestream Health has signed an agreement to sell its healthcare information systems (HCIS) business to Philips Healthcare.

Carestream’s HCIS business unit provides imaging IT solutions to multi-site hospitals, radiology services providers, imaging centers and specialty medical clinics around the world. The business has developed strong customer relationships in attractive, high-growth healthcare segments and is positioned for continued growth and success.

As a result of this acquisition, Philips’ expanded healthcare IT business will feature Carestream’s enterprise imaging platform — including best in class vendor neutral archive (VNA), diagnostic and enterprise viewers, multimedia reporting, Workflow Orchestrator and clinical, operational and business analytics tools — as part of its broad portfolio.

“We have had global success in providing radiology and enterprise imaging IT systems to help medical professionals provide quality care and enhance their operations,” said Ludovic d’Aprea, Carestream’s general manager for halthcare information solutions. “By becoming part of Philips, the HCIS business will have a greater opportunity to thrive and grow. Both organizations share a commitment to meaningful innovation which is deeply embedded in each company’s culture. Customers will have access to a broader portfolio of healthcare IT solutions to simplify medical image management, enable effective collaboration and enhance patient care.”

Like Carestream, Philips has built a strong, global business based on customer focus, world-class technical excellence and continuous innovation.

“Philips partners with global healthcare providers to connect people, information and technology with the commitment to deliver on the Quadruple Aim of improved patient experiences, better health outcomes, improved staff experiences, and lower costs of care,” said Robert Cascella, chief business leader precision diagnosis at Royal Philips. “This acquisition will enhance our ability to provide flexible solutions to hospitals and health systems. The combination of our successful innovations in imaging system platforms, workflow optimization and artificial intelligence-enabled informatics, combined with Carestream’s cloud-based enterprise imaging informatics platform and complementary geographic footprint will provide a solid foundation to deliver on the promise of precision diagnosis.”

Carestream will retain its medical imaging systems, dental and industrial films, non-destructive testing, and precision coating businesses which are not impacted by the sale. “These established businesses have solid financial foundations, innovative technology platforms and have earned the trust of loyal customers around the world,” said David C. Westgate, chairman, president and CEO of Carestream. “Our focus will be on delivering innovation that is life changing — for patients, customers, channel partners, communities and other stakeholders — and we will grow the company for long-term success.”

Following receipt of all regulatory and applicable government approvals, input from works councils and unions, and meeting all pre-conditions, the two companies will work towards closing the sale in the second half of this year and will continue to operate independently until closing.

Additional terms of the transaction were not disclosed.

 

Related Carestream and Health-IT Content:

VIDEO: Managing a Multi-site Radiology Practice With AI-based Workflow — Andrew Deutsch, M.D., on use of Carestream's Workflow Orchestrator

Exhibitors Echo Need for Collaboration — HIMSS 2019

VIDEO: Interactive Multimedia Radiology Reports to Enhancing Patient Care — Interview with Cree Gaskin, M.D.,on the use of Carestream's radiology reporting software

Achieving Success in the PACS Market

Carestream Spotlights Healthcare IT and Imaging Systems at RSNA 2018

Materialise and Carestream Deploying Zero-Footprint Surgical Planning Solution

6 Key Health Information Technology Trends at HIMSS 2019

Related Content

Shimadzu Medical Systems USA, a leading manufacturer of advanced medical X-ray imaging systems, has announced that the Trinias unity edition product line has been awarded a contract from Vizient, Inc., a healthcare performance improvement company, effective Sept. 1, 2021.
News | X-Ray | September 17, 2021
September 17, 2021 — Shimadzu Medical Systems USA, a leading manufacturer of advanced medical...
Avoiding contrast dyes for imaging tests not necessary if concerned about iodine allergy, peer-reviewed study concludes #MRI

Getty Images

News | Contrast Media Injectors | September 16, 2021
September 16, 2021 — FDB (First Databank), a leading provider of drug and medical device knowledge that helps healthc
This is an example of 3-D ultrasound imaging on a breast, designed to help increase efficiency and diagnostic accuracy in any practice. Image courtesy of Hologic.

This is an example of TriVu ultrasound imaging on a breast, designed to help increase efficiency and diagnostic accuracy in any practice. Image courtesy of Hologic.

Feature | Breast Imaging | September 15, 2021 | By Jennifer Meade
The...
Revised guidelines for lung cancer screening eligibility are perpetuating disparities for racial/ethnic minorities, according to a new study in Radiology.

Getty Images

News | Lung Imaging | September 15, 2021
September 15, 2021 — Revised guidelines for...
To get more flexibility and cost savings from storage, healthcare organizations are increasing their investments in the cloud
Feature | Information Technology | September 15, 2021 | By Kumar Goswami
Healthcare organizations today are storing petabytes of medical imaging data — lab slides,...
Revenues for teleradiology reading service providers are forecast to follow a similar profile over this period.

Outlook for 2021 and Beyond. As displayed in the figure below, these six market drivers are projected to result in teleradiology reading service volumes increasing by 21% in 2021 and nearly doubling by 2025. Revenues for teleradiology reading service providers are forecast to follow a similar profile over this period.

Feature | Teleradiology | September 15, 2021 | By Arun Gill
The closely tied relationship between...
Cloud services have been utilized within healthcare organizations for more than a decade. Now with the growth of artificial intelligence (AI) it is very common to see organizations adopting cloud services.

Getty Images

Feature | Information Technology | September 14, 2021 | By Jef Williams