Kodak completes its purchase of Algotec Systems

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Eastman Kodak Co. has closed on its acquisition of Algotec Systems Ltd., a developer of picture archiving and communications systems (PACS) for $42.5 million in cash.

 Algotec, based in Raanana, Israel, has collaborated with Kodak since May 2002, providing supplemental software, most notably in the development of Kodak's new DirectView PACS System 5.

 Algotec and its 70 worldwide employees become a wholly owned subsidiary of Kodak

 Health Imaging News will have more on the impact of the acquisition next week, along with the perspectives of the acquisition from Dan Kerpelman, president of Kodak's Health Imaging unit.