In 2000 Kodak also purchased another Israeli startup, Picture Vision, for $90 million. Thre latter was closed the next year.
Orex's technology allows the taking of digital dental X-rays and storing them, without the use of film. The pictures can then be viewed on the dentist's own computer and saved. Orex had revenues of about $20 million in 2004. It employs 70 in Israel and Boston. The company is profitable.. Orex was founded in 1996 as Digident. Orex has raised a total of $11.6 million over the years.
The firm was nearly shut in 2000 after losing $3 million on $2.5 million in sales. Management changes were responsible for a turnabout in the company's fortunes.
Israeli company Orex Ltd., is being acquired by Kodak for $55 million in cash. Kodak will pay $45 million in cash, in addition to the $10 million in cash that Orex owns. Kodak will integrate Orex's activities with those of Algotec, another Israeli startup that it bought for $58 million in 2003.