Given Imaging Ltd. (GIVN) announced that it has acquired from the SmartPill Corporation, a U.S. based-company, the assets related to the SmartPill GI Monitoring System for $6 million.
The SmartPill is an ingestible capsule that uses sensor technology to measure pH, pressure and temperature in the GI tract.
The SmartPill System measures gastric emptying and total GI (stomach, small bowel and colon) transit times and is used to evaluate motility disorders like gastroparesis and constipation.
The company said it anticipate that this acquisition will have an immediate contribution to our top-line results and will be accretive to its bottom-line by the end of 2014.
Given Imaging does not expect that this acquisition will have a meaningful contribution to its fourth quarter 2012 revenues. The company will record the acquisition expenses in its fiscal year 2012 financial statements.
The company expects that its 2013 revenues will include low single-digit revenue in millions of US dollars from SmartPill, and plans to make additional investments in clinical trials, market development and manufacturing efficiency to support future growth.
The acquisition also includes an earn-out component, based on sales of the SmartPill product between 2013 and 2016. The company expects that earn-out payments, if any, will not be material.
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