Covidien Shells Out $860M For Israeli Medical Co.

Law360, New York (December 9, 2013, 1:41 PM EST) -- Medical supply manufacturer Covidien agreed to acquire Israeli medical imaging provider Given Imaging Ltd. for $860 million in cash, the companies said Monday.

Covidien wants to expand to provide equipment for gastrointestinal issues, making Given an attractive target, the company said. The Israeli company makes PillCam, a capsule-shaped camera unit that patients can swallow, which then records medical data as it passes through the digestive tract, making gastric endoscopy much faster and easier.

“We believe GI is one of the most attractive specialty procedure areas," said Bryan...
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