Given Imaging (GIVN) Acquires SmartPill GI System Assets for $6M
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Given Imaging Ltd (Nasdaq: GIVN) 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 SmartPill is cleared by the FDA and CE marked for the evaluation of gastroparesis and constipation, and has an existing CPT code. A category 1 CPT code specifically and exclusively for the SmartPill procedure goes into effect in January, 2013. Given Imaging plans to invest in market development activities designed to expand the body of clinical evidence for and awareness of SmartPill.
The SmartPill is cleared by the FDA and CE marked for the evaluation of gastroparesis and constipation, and has an existing CPT code. A category 1 CPT code specifically and exclusively for the SmartPill procedure goes into effect in January, 2013. Given Imaging plans to invest in market development activities designed to expand the body of clinical evidence for and awareness of SmartPill.
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