Given Imaging said today that it's paying $35 million to acquire Sierra Scientific Instruments from private equity firm Water Street Healthcare Partners. Sierra is a provider of specialty diagnostic devices for the gastrointestinal (GI) tract. Given said Sierra's technology, along with its own Bravo pH Monitoring System, make it the leader in the esophageal diagnostics market.
"From a financial standpoint, acquiring Sierra will increase our revenue base, and ultimately profitability," said Homi Shamir, president and chief executive officer. "It enables us to diversify our product and geographic revenues through access to additional best-in-class products, people, and manufacturing assets. We plan to offer our full product portfolio to our expanded customer base to drive broader use of all of our products."
- here's Given's release for more