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
- Industry
- Healthcare Services
- Location
- New Jersey, United States
- Transaction Type
- Addon
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