Kingsway Financial Services Acquires Digital Diagnostics Imaging for $11M

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.