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Buffalo Business Report - Tuesday, February 4th 2014

The FDA has approved an ingestible pill from Given Imaging of Israel for use as an alternative for those patients who are unable to deal with a standard colonoscopy.  This technology was sold by the former SmartPill Company of Buffalo to Given Imaging in 2012.  The device uses a battery-powered camera to take high-speed photos as it slowly winds ita way through the intestinal tract over eight hours.  Those images are then transmitted to a recording device worn around the patients' waist and later reviewed by a doctor.

Seneca Mortgage Investment LP has purchased AMS Servicing LLC for an undisclosed amount.  AMS Servicing is a back-office mortgage servicing company.  It's already announced plans to move from Depew to Elma and add nearly 200 jobs.

According to Business First, Darin Pastor will bring a branch of his company, California-based Capstone Financial Group to this region.  The firm specializes in investment banking and wealth management.  Pastor is from the local family that once owned the Pepsi Cola Buffalo Bottling Corporation.

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