Strong Performance Positions Carestream Health for Future Growth

  Strong Performance Positions Carestream Health for Future Growth

Business Wire

ROCHESTER, N.Y. -- June 10, 2013

Carestream announced today that it has recapitalized its balance sheet and is
well positioned for future growth.

Carestream evaluated various strategic alternatives earlier this year. Due to
the company’s strong performance and attractive future prospects, Onex (TSX:
OCX) and Carestream’s Board of Directors chose to refinance the company’s debt
and continue to invest in long-term growth.

“Based on Carestream’s improving market position, strong cash flow and proven
management team, we determined that a recapitalization would be the most
attractive alternative,” commented Robert Le Blanc, Carestream’s Chairman of
the Board and a Senior Managing Director of Onex. “We are excited to continue
working with the management team and employees to support the long-term growth
of the business.”

In the six years since its founding, Carestream has delivered an attractive
2.6x multiple of invested capital to its shareholders while simultaneously
increasing its investments in research and development and customer support.
These investments have resulted in successful and award-winning new product
introductions that have contributed to recent growth and improved prospects.

“We have a strong business and a bright future,” said Kevin Hobert, CEO of
Carestream. “With 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, we are poised to build on our past
success and continue to innovate and grow. Our management team couldn’t be
more excited about continuing to work with Onex, our Board and our customers
to build our business.”

About Carestream Health

Carestream is a worldwide provider of dental and medical imaging systems and
IT solutions; X-ray imaging systems for non-destructive testing and advanced
materials for the precision films and electronics markets. For more
information about the company’s broad portfolio of products, solutions and
services, please contact your Carestream Health representative or visit
www.carestream.com.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and
most successful private equity firms. Onex acquires and builds high-quality
businesses in partnership with talented management teams. The Company has
approximately $16 billion of assets under management, including $5 billion of
proprietary capital, in private equity, credit securities and real estate.
Onex invests its proprietary capital directly and as a substantial limited
partner in its Funds. Onex’ businesses have assets of $44 billion, generate
annual revenues of $37 billion and employ approximately 243,000 people
worldwide. Onex shares trade on the Toronto Stock Exchange under the stock
symbol OCX. For more information on Onex, visit its website at www.onex.com.
The Company’s security filings can also be accessed at www.sedar.com.

CARESTREAM is a trademark of Carestream Health.

Follow Carestream Health online:

http://www.twitter.com/carestream
http://www.youtube.com/carestream
http://blog.carestreamhealth.com/
http://www.facebook.com/carestream

Contact:

Media:
Carestream
Robert Salmon, 585-627-6560
robert.salmon@carestream.com
or
Onex
Emma Thompson, 416-362-7711
ethompson@onex.com
 
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