Rochester-based Carestream has entered into an agreement to sell the Carestream Dental digital business to two private equity investment firms.
Carestream, working with its parent company Onex Corporation, will sell the dental digital business to funds managed by Clayton, Dubillier & Rice and CareCapital Advisors Limited.
The dental digital business provides imaging systems and practice management software. Dental X-ray film and anesthetics are not part of the sale and will remain with Carestream.
Lisa Ashby, the president of Carestream Digital, will become CEO of the new independent company upon the closing of the transaction. Ashby called the sale “a landmark moment for Carestream Dental that positions the company for exciting future growth.”
A spokesman for Carestream says the sale will mean “business as usual” for the Rochester operations with no impact on the local facilities.
Carestream employs around 1,250 people locally, but did not break out how many work for the digital dental operation.