Onex Healthcare gets financing commitment for purchase of Kodak's health group

By Sara Rosenberg

New York, Jan. 10 - Onex Healthcare Holdings Inc. has received a financing commitment letter to help back its buyout of Eastman Kodak Co.'s health group business, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The health group consists of Kodak's medical, dental and molecular imaging systems businesses.

Under the transaction agreement, Onex Healthcare, a subsidiary of Onex Corp., is buying the health care business for up to $2.55 billion, consisting of an initial payment of $2.35 billion in cash plus up to an additional $200 million if Onex achieves certain returns with respect to its investment.

Closing is anticipated to occur during the first half of 2007, subject to regulatory and other approvals.

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