Bain Capital LLC and Thomas H. Lee Partners are the two remaining bidders for Carestream Health Inc., according to a Reuters report.
Carestream Health, headquartered in Rochester, N.Y., is a worldwide provider of dental and medical imaging systems and healthcare IT solutions; x-ray film and digital x-ray systems for non-destructive testing; and advanced materials for the precision films and electronics markets.
The company was formed in 2007 when Onex Corporation, a Toronto-based PE firm, acquired Eastman Kodak Company’s Health Group and renamed the business as Carestream Health.
Bain Capital and Thomas H. Lee Partners are both PE firms based in Boston.
The auction of Carestream had also drawn interest from Carlyle Group LP, , Hellman & Friedman LLC and KKR & Co LP, according to earlier reports.
The deal could be valued at upwards of $3.5 billion.