Covidien Buys Given To Build GI Business Base In Biggest Israeli Medtech Deal

Three years ago, Covidien signaled its intention to build a gastrointestinal device business with its acquisition of Barrx Medical and its esophageal ablation technology for Barrett’s esophagus. Since then, the industry has been waiting for Covidien to follow through on its strategy to expand its presence in the $3 billion GI market, and that next step came with the company’s recent $860 million acquisition of publicly traded Given Imaging Ltd.