Given Imaging, based in the town of Yokne’am in northern Israel, develops the PillCam endoscopic camera for the esophagus, small intestine and colon.
Los Angeles-based Sierra Scientific’s unaudited financial report states that its revenue was $18 million in 2009. The company’s products diagnose a range of gastrointestinal disorders, including gastroesophageal reflux disease.
Given Imaging president and CEO Homi Shamir was quoted by Globes, Israel’s leading financial daily, as saying: “Sierra Scientific is a strong, well managed company respected by the GI community for its cutting-edge products which deliver reliable performance. This acquisition strengthens Given Imaging’s position as the global leader in the gastroesophageal diagnostic market.”
Shamir does not rule out further acquisitions: “We are examining additional things all the time. This is a very good time for acquisitions and Given is a company generating cash and profit.”