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Water Street Healthcare Partners Signs Definitive Agreement to Sell Sierra Scientific Instruments to Given Imaging
Date:3/21/2010

"Sierra Scientific is a strong, well managed company respected by the GI community for its cutting-edge products which deliver reliable performance. This acquisition strengthens Given Imaging's position as the global leader in the gastroesophageal diagnostic market.  With manometry, impedance, catheter pH and Bravo wireless pH products, we advance our vision of providing total world-class solutions to our GI customers' evolving product needs," said Homi Shamir, president and chief executive officer, Given Imaging.  "From a financial standpoint, acquiring Sierra will increase our revenue base and ultimately profitability.  It enables us to diversify our product and geographic revenues through access to additional best-in-class products, people and manufacturing assets. We plan to offer our full product portfolio to our expanded customer base to drive broader use of all of our products."

Sierra Scientific employs 175 people in Los Angeles, where it is headquartered, and in HoChiMinh City, Vietnam, where it recently opened a manufacturing facility.  The company achieved revenues of approximately $18 million in 2009.  Approximately 60 percent of those revenues were from sales in the United States and 40 percent were from international sales, principally in Europe.


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SOURCE Water Street Healthcare Partners
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