Kingsway Financial Services Acquires Digital Diagnostics Imaging for $11M

October 27, 2023

Kingsway Financial Services (NYSE: KFS) acquired Digital Diagnostics Imaging, Inc. (DDI), a New Jersey-based provider of outsourced cardiac monitoring telemetry services, for $11.0 million in an all-cash transaction funded with cash and debt. The acquisition, completed under Kingsway's Search Xcelerator platform, is immediately accretive and adds about $4.2 million of annual revenue and $1.8 million of annual adjusted EBITDA while bringing a capital-light, recurring-revenue capability into Kingsway's portfolio.

Buyers
Kingsway Financial Services Inc.
Targets
Digital Diagnostics Imaging, Inc.
Sellers
Thomas Corney, Marissa Corney
Platforms
Kingsway Search Xcelerator
Location
New Jersey, United States
Transaction Type
Addon

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