The Maker of a Swallowable Pill That Takes Pictures Sells for $860 Million

It's not just your photo-snapping smartphone that's a hot commodity these days.

Israel-based Given Imaging, the maker of a swallowable pill camera called PillCam, agreed to be purchased by Dublin-based Covidien for $30 per share in cash for a total of approximately $860 million, according to a joint announcement released yesterday.

The deal will give health-care products company Covidien additional reach into the gastrointestinal market, which the Irish healthcare company says is a multibillion dollar industry.

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The technology behind the PillCam is simple, but fascinating. A patient ingests the PillCam and a teeny tiny camera inside the pill takes images of the small intestine, esophagus and colon and then wirelessly transmits the images for a physician to examine.

Covidien says its purchase of Given Images “confirms our leadership in developing less-invasive screening, diagnosis and treatment solutions that can improve patient outcomes and lower healthcare costs,” according to the announcement.

For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

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