Covidien completes acquisition of Given Imaging

Covidien has closed its acquisition of Given Imaging Ltd., providing the company additional scale and scope to serve a medical specialty, the gastrointestinal (GI) market.
Under terms of the merger agreement, Covidien has acquired all outstanding Given shares for USD 30 per share or an aggregate consideration of approximately USD 860 million, net of cash and short-term investments acquired.

“Acquiring Given Imaging significantly expands Covidien’s GI Solutions business and supports the company’s strategy to comprehensively address key global specialties and procedures,” said Bryan Hanson, group president, Medical Devices & U.S., Covidien. “We are committed to providing clinicians with more accurate and efficient diagnostic technologies to help achieve better outcomes for patients.”

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