Given Imaging Acquires SmartPill for $6M
Given Imaging has announced it has acquired the assets related to the SmartPill GI monitoring system for $6 million, according to a news release.
The SmartPill, developed by Buffalo, N.Y.-based SmartPill Corp., is described as an ingestible capsule that uses sensor technology to measure pH, pressure and temperature in the GI tract.
"SmartPill is an excellent strategic fit with Given Imaging's proprietary technology and extensive portfolio of GI diagnostic tools," said Homi Shamir, president and CEO of Given Imaging, in the release. "Incorporating SmartPill into our business strengthens our value proposition to gastroenterologists as we will now provide an industry-leading platform of patient-friendly GI diagnostic solutions. We anticipate that this acquisition will have an immediate contribution to our top-line results and will be accretive to our bottom line by the end of 2014."
The SmartPill is cleared by FDA for the evaluation of gastroparesis and constipation.
Given Imaging is headquartered in Yoqneam, Israel.
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