Eastman Kodak Company today announced the completion of its acquisition of PracticeWorks, Inc., Atlanta, Ga., a leading provider of dental practice management software (DPMS). In the purchase, Kodak also acquired PracticeWorks' subsidiary, Trophy Radiologie, S.A., a leading provider of dental digital radiographic imaging systems in Paris, France.
Kodak paid $468 million for PracticeWorks and assumed net debt of approximately $18 million. Accordingly, Kodak acquired all outstanding PracticeWorks shares and became the 100% owner of Trophy Radiologie.
As a result of the transaction, holders of PracticeWorks common stock will receive $21.50 for each share of common stock. Holders of PracticeWorks Series B preferred stock will receive $7.33 for each share of Series B preferred stock.
Both PracticeWorks and Trophy Radiologie join Kodak as separate subsidiaries to maintain continual focus on the success of their individual businesses. The two companies and their product portfolios are now part of the Dental Systems Strategic Product Group in Kodak's Health Imaging Group.
