The Maker of a Swallowable Pill That Takes Pictures Sells for $860 Million Health-care products maker Covidien has snatched up Israel-headquartered Given Imaging in an all-cash deal.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

It's not just your photo-snapping smartphone that's a hot commodity these days.

Israel-based Given Imaging, the maker of a swallowable pill camera called PillCam, agreed to be purchased by Dublin-based Covidien for $30 per share in cash for a total of approximately $860 million, according to a joint announcement released yesterday.

The deal will give health-care products company Covidien additional reach into the gastrointestinal market, which the Irish healthcare company says is a multibillion dollar industry.

The technology behind the PillCam is simple, but fascinating. A patient ingests the PillCam and a teeny tiny camera inside the pill takes images of the small intestine, esophagus and colon and then wirelessly transmits the images for a physician to examine.

Covidien says its purchase of Given Images "confirms our leadership in developing less-invasive screening, diagnosis and treatment solutions that can improve patient outcomes and lower healthcare costs," according to the announcement.

Related: A Dose of Advice for Health-Tech Startups (Video)

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

What's Open on Easter Sunday? Costco and Target Will Close, But One Major Retailer Will Be Open. Here's What To Know.

The stock market was closed for Good Friday on April 18. Here's what's closed for Easter Sunday, April 20.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

Social Media

With This LinkedIn Algorithm Change, Your Best Posts Could Reach New Readers for Months

It's one of many new features rolling out on the platform in 2024.

Leadership

Lead From the Top: 5 Core Responsibilities of a CEO

Knowing exactly what the chief executive's role entails is critical for steering a company to success.