Koninklijke Philips N.V. (ENXTAM:PHIA) signed an agreement to acquire healthcare information systems (HCIS) business from Carestream Health, Inc. on March 7, 2019. Carestream will retain its medical imaging, dental and industrial films, non-destructive testing, and precision coating businesses which are not impacted by the sale. Koninklijke Philips and Carestream will continue to work to operate independently until closing. The transaction is subject to all regulatory and applicable government approvals, input from works councils and unions, and meeting all pre-conditions. As of April 15, 2019, the transaction was granted anti-trust approval by FTC. The transaction is expected to close in the second half of 2019.

Koninklijke Philips N.V. completed the acquisition of healthcare information systems (HCIS) business in 26 of the 38 countries from Carestream Health, Inc. on August 1, 2019. Philips expects to complete the acquisition of Carestream's HCIS business in the remainder of the countries in which it operates in the course of 2019. The business will become part of Philips' Enterprise Diagnostic Informatics business within the Diagnosis & Treatment reporting segment.

Joel Greenberg, Derek Stoldt, Aaron Gardner, Eric Levine, Jennifer McLellan, Megan Melbourne, Jeffrey London, Henry Clinton-Davis, Laurie Abramowitz, Sarah Soloveichik, Pete Levitas, Katherine Clemons, Peter Danias, Axel Gutermuth and Abeba Habtemariam of Arnold & Porter acted as legal advisors to Carestream Health. Rita-Anne O'Neill, Matthew Hurd, Regina L. Readling, Nader A. Mousavi, S. Eric Wang, Theodore Edelman, Renata B. Hesse and Michael Rosenthal of Sullivan & Cromwell and Morgan Lewis & Bockius acted as legal advisors to Royal Philips. XMS Capital Partners, LLC acted as the financial advisor to Koninklijke Philips N.V.