Covidien has wrapped up its acquisition of gastrointestinal technology developer Given Imaging for approximately $860 million in cash.
The Given Imaging business will be reported within Covidien's advanced surgical revenue reporting line and is expected to add $40 to $50 million per quarter in incremental revenue, Covidien said.
The deal is expected to be dilutive to earnings per share on a U.S. generally accepted accounting principles (GAAP) basis in fiscal 2014, but accretive to earnings per share in fiscal 2015 and beyond, according to the firm.
