By Vince Sullivan (August 23, 2022, 7:07 p.m. EDT) — Medical imaging and testing equipment company Carestream Health Inc. filed for Chapter 11 protection on Tuesday, citing lower revenue due to moving away from its cinematic imaging products and to digital options with lower margins.

The company came to court with a pre-packaged reorganization plan that will reduce about $470 million of its $1.032 billion debt through a series of loan-for-stock swaps and new rights offerings.

The medical imaging products maker’s chief financial officer said he had been affected by the COVID-19 pandemic, including a drop in demand for its products due to an increase in healthcare appointments at distance. (AP Photo/Lefteris…

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