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  • Quantum Health has purchased Carestream’s imaging service businesses in Australia and New Zealand for $4.2 million
  • The company believes this acquisition will be an important opportunity to further grow its presence in the Medical Imaging market
  • The acquisition is expected to be completed on November 1 2019
  • Quantum remains steady on the Australian Securities Exchange and is selling shares 1.9¢ a share

Quantum Health Group has purchased Carestream’s medical imaging service businesses in Australia and New Zealand for $4.2 million.

Carestream’s medical imaging service business provides onsite and remote service to hospitals and radiology imaging centres.

The business is highly regarded and developed strong customer relationships in the healthcare sector.

Quantum is a leading independent healthcare company operating throughout Australasia. The business specialises in the distribution of state of the art medical imaging, patient treatment, hospital water sterilisation and equipment services in Radiology, Oncology and Women’s Healthcare.

Carestream Health is a worldwide provider of medical imaging systems and has been around for 100 years. It is passionately committed to doing “whatever it takes” to help our customers be successful.

Quantum will buy the business for $4.2 million, fewer adjustments of $1.7 million for deferred revenue, warranty labour provision and staff entitlements with $880,000 of the amount payable to Carestream to be paid over two years following completion of the deal.

The acquisition is scheduled to be completed on November 1, 2019, and includes Carestream’s existing service contracts and service stock.

When the deal is completed, Quantum’s Healthcare Division will take on the responsibility and benefits, for performing Carestream’s service arrangements, putting contracts in place with its customer base and will also be responsible for ongoing liabilities of operating the service business.

“Quantum plans to keep all engineering staff and service delivery levels to the Carestream customer base, with transition advice to customers being communicated directly over the coming weeks,” the company said.

Following this acquisition, Quantum has been appointed as a Sales Distributor of Carestream’s market leading digital radiography imaging equipment in Australia and New Zealand.

“Quantum Health Group is delighted to have been able to enter into these Service Business and Distributorship arrangements with Carestream Health,” the company added.

The company believes this acquisition will be an important opportunity to develop relationships with Carestream’s customers and to further grow its presence in the Medical Imaging market.

Quantum remains steady on the Australian Securities Exchange and is selling shares 1.9¢ apiece at 10:06 am AEDT.

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