Carestream recapitalises balance sheet with support from Onex

Carestream has announced that it has recapitalised its balance sheet with support from private equity firm Onex.

The dental and medical imaging company's board of directors and representatives from Onex have chosen to refinance its debt after evaluating various strategic alternatives, with the final decision being based on Carstream's strong recent performance and future prospects.

Since its foundation six years ago, Carestream has delivered returns to shareholders equivalent to 2.6 times their invested capital, while simultaneously increasing its investments in research and development and customer support.

This has allowed it to introduce successful and award-winning new products that have bolstered the commercial attractiveness of the Carestream business.

Kevin Hobert, chief executive officer of Carestream, said the company possesses "an employee base passionate about delivering high-quality solutions to our customers, a portfolio of market-leading products and the financial strength to invest in our future".

In April 2013, the firm received a highly prestigious red dot award for product design, in recognition of its digital panoramic imaging system CS 8100.