Medical imaging and healthcare technology solutions provider Carestream Health Inc is now in the process of searching for a buyer for its assets. The projected sale price is US$3.5 billion according to individuals familiar with the sale.

Carestream was initially purchased by Onex Group, a private equity firm back in 2007 for a whopping cost of US$2.35 billion. The company has hired Goldman Sachs, Bank of America Merrill Lynch and Credit Suisse Group to undertake the sale process.

The company is based out of Rochester, NY was established back in 2007 when Onex bought out Eastman Kodak Company's health division and renamed it Carestream. Amongst the technology provided by the company are Xray systems, molecular imaging technology as well as dental imagers including their software and other attendant services.

The company earns about US$450 million before tax, interest, depreciation and amortization (EBITDA) and can be sold at least seven times its EBITDA value.

All the parties declined to comment, with Carestream stating that the company does not comment on rumors or speculations.