Apr 8, 2010

SGR Assists Given Imaging in Acquisition of Sierra Scientific Instruments

ATLANTA (April 8, 2010) — Smith, Gambrell & Russell attorneys assisted Given Imaging Ltd. in its acquisition of privately-held Sierra Scientific Instruments for $35 million in cash. The transaction closed on March 31, 2010 and became effective on April 1, 2010. It expands Given Imaging’s diagnostics portfolio and strengthens its position in the market.

Jonathan M. Minnen was lead transaction counsel for Smith, Gambrell & Russell. David Santi was SGR’s lead tax counsel and Emily Cacioppo was lead associate. Laura Andrew, Chris FitzPatrick, Kate Bongiovanni, and Jeff Bekiares were also part of the SGR team.

Sierra Scientific is the leading provider of specialty diagnostic devices for the gastrointestinal (GI) tract and will become a wholly-owned subsidiary of the company. Given Imaging is acquiring Sierra Scientific from Water Street Healthcare Partners, a leading private equity firm focused exclusively on health care.

“We were delighted to be transaction counsel for one of Israel’s premier companies,” said Jonathan Minnen, relationship partner at SGR for Given Imaging. Mr. Minnen heads up the Firm’s Israel Practice and chairs the Firm’s Corporate Department. “Given Imaging continues to make valuable contributions to healthcare in the area of diagnostics, and the addition of Sierra Scientific complements their innovative product line.”

Coupled with Given Imaging’s existing Bravo® pH Monitoring System, the acquisition positions Given Imaging as the leader in the market for esophageal diagnostics, including manometry as well as pH and impedance monitoring, for which the 2009 served market was estimated at $60 million. The Company intends to expand this market by building on this leadership position.

Since 2001, Given Imaging has advanced gastrointestinal visualization by developing innovative, patient-friendly tools based on its PillCam® Platform. PillCam® capsule endoscopy provides physicians with natural images of the small intestine via PillCam® SB, the esophagus through PillCam® ESO and the colon with PillCam® COLON [PillCam COLON is not cleared for use in the USA]. The PillCam® capsules are miniature video cameras that patients ingest. Given Imaging’s other capsule products include Agile™ patency capsule, to verify intestinal patency, and Bravo® the only wireless, catheter-free, 48-hour pH test commercially available for pH testing to assess gastroesophageal reflux disease (GERD). Given Imaging’s products use cutting-edge, wireless technology and advanced software to enable gastroenterologists to visualize diseases of the esophagus, small bowel and colon. All Given Imaging products allow patients to maintain normal activities. Given Imaging’s headquarters, manufacturing and R&D facilities are located in Yoqneam, Israel, with operating subsidiaries in the United States, Germany, France, Japan, Australia and Singapore. For more information, please visit

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