Add-on Acquisition • Medical Products

Given Imaging Acquires Sierra Scientific Instruments

On March 22, 2010, Given Imaging acquired medical products company Sierra Scientific Instruments from Water Street Healthcare Partners for 35M USD

Acquisition Context
  • This is Given Imaging’s 1st transaction in the Medical Products sector.
  • This is Given Imaging’s largest (disclosed) transaction.
  • This is Given Imaging’s 1st transaction in the United States.
  • This is Given Imaging’s 1st transaction in California.

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M&A Deal Summary

Date March 22, 2010
Target Sierra Scientific Instruments
Sector Medical Products
Buyer(s) Given Imaging
Sellers(s) Water Street Healthcare Partners
Deal Type Add-on Acquisition
Deal Value 35M USD

Target Company

Sierra Scientific Instruments

Los Angeles, California, United States
Sierra Scientific Instruments LLC is a provider of specialty diagnostic devices to the clinical gastroenterology market.
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Buyer Overview 1

Buyer

Given Imaging

Yoqneam, Israel

Category Company
Founded 1998
Sector Healthcare Services
Employees804
DESCRIPTION

Given Imaging Ltd. ,creates innovative solutions that meet the needs of patients. To do so, we continuously work to develop and provide physicians with innovative tools that enable them to make decisions about their patients’ health.


Deal Context for Buyer #
Overall 1 of 1
Sector: Medical Products 1 of 1
Type: Add-on Acquisition 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2010 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 7 of 31
Sector: Medical Products 5 of 10
Type: Add-on Acquisition 7 of 19
State: California 2 of 6
Country: United States 7 of 30
Year: 2010 1 of 1
Size (of disclosed) 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-14 Alpine Biomed

Fountain Valley, California, United States

Alpine Biomed Corp. is a provider of specialty diagnostic devices for the neurology clinical market.

Sell $43M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-02 Medical Specialties Distributors

Stoughton, Massachusetts, United States

Medical Specialties Distributors LLC is a provider of infusion products, supplies, biomedical services and technology solutions to the growing home infusion therapy market. Medical Specialties Distributors LLC was founded in 1982 and is based in Stoughton, Massachusetts.

Buy -