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Covidien Ventures Into Capsule-Based Endoscopy With Given Imaging Acquisition

The $860 million purchase agreement will give Covidien the dominant capsule endoscopy platform on the market as the company hopes for FDA approval this year of PillCam COLON 2 as a less invasive alternative for patients who are unable to undergo a colonoscopy.

Medtronic Minimally Invasive Therapies is building its gastrointestinal device foundation with the planned purchase of capsule-based endoscopy provider Given Imaging Ltd. for a net price of $860 million. With the deal, Covidien is betting on near-term FDA approval of Given’s PillCam technology to help diagnose colon cancer to drive growth.

“Adding Given’s portfolio of diagnostics to our portfolio accelerates Covidien’s strategy of providing physicians with products that support the patient...

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