---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-029313"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T05:34:56.718468+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Kingsway acquires Digital Diagnostics Imaging for $11M cash; expects immediate accretion

## Summary
- $11M all-cash acquisition of DDI, a cardiac telemetry monitoring provider, closed Oct 26, 2023.
- Funded with $5.4M cash on hand and $5.6M debt from Signature Bank.
- DDI adds $4.2M annual revenue and $1.8M adjusted EBITDA; expected immediately accretive.
- Peter Dausman becomes DDI CEO; founder Thomas Corney remains as advisor.
- Conference call on Oct 31, 2023 at 5 PM ET to discuss transaction.

## SEC filing metadata
- accession: 0001437749-23-029313
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774923029313/0001437749-23-029313-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774923029313/kfs20231027_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-029313
- JSON: https://secwatch.observer/filing/0001437749-23-029313.json
- Plain text: https://secwatch.observer/filing/0001437749-23-029313.txt

## Key facts
- Material Agreements
  KINGSWAY FINANCIAL SERVICES INC entered into Stock Purchase Agreement with Thomas J. Corney and TC Family 2023 LLC (collectively, the "Sellers") valued at $11,000,000 (effective 2023-10-26).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Thomas J. Corney and TC Family 2023 LLC (collectively, the "Sellers")
  - Value: $11,000,000
  - Effective: 2023-10-26
  source text: On October 26, 2023, DDI Acquisition LLC (“Kingsway Buyer”), a subsidiary of Kingsway Financial Services Inc. (the “Company”), entered into a Stock Purchase Agreement (the “Agreement”) with Thomas J. Corney and TC Family 2023 LLC (collectively, the “Sellers”), pursuant to which, subject to the terms and conditions of the Agreement, the Kingsway Buyer acquired from the Sellers all of the issued and outstanding shares of capital stock (the “Acquired Shares”) of Digital Diagnostics Imaging, Inc. (“DDI”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1072627/000143774923029313/0001437749-23-029313-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.