Carestream Health, an Onex portfolio company, has raised approximately $2.4 billion of debt to fund a $725 million distribution to shareholders and refinance existing debt facilities. Onex will receive a distribution of about $673 million, including carried interest of $48 million. Combined with prior distributions, Onex will have received approximately $1.2 billion, representing a 2.6x gross multiple of invested capital and a 22% cash-on-cash rate of return. The firm will continue to own approximately 91% of the company. Carestream is a New York-based medical imaging company that Onex acquired from Eastman Kodak in 2007.