Healthcare Industry News: Capsule Endoscopy
News Release - June 12, 2006
Given Imaging Announces Resignation of Executive Vice Chairman Gavriel MeronYOQNEAM, Israel, June 12 (HSMN NewsFeed) -- Given Imaging Ltd. (Nasdaq: GIVN ) today announced that Gavriel D. Meron, executive vice chairman, has resigned in order to pursue other interests. Mr. Meron was appointed executive vice chairman in April after serving as president and chief executive officer and member of the company's board of directors since he co-founded the Company in 1998.
"Gabi has been instrumental in building Given Imaging since its inception. Capsule Endoscopy is now recognized as the standard of care for detecting small bowel disease and Gabi led the development and commercialization of this valuable technology. We thank Gabi for all of his contributions and wish him the best in his future endeavors," said Doron Birger, Chairman of the Board. "We have a very strong management team in place led by Homi Shamir to take Given Imaging to the next level of growth."
"The past eight years have been both intensive and enjoyable. I want to thank the many individuals from all over the world who have contributed in creating the platform and turning the vision of Given Imaging into a successful reality," said Gavriel Meron. "The infrastructure is in place to take Given to the next phase. I continue to be supportive of the Company, and wish the team continued success in the future."
About Given Imaging
Given Imaging is redefining gastrointestinal diagnosis by developing, producing and marketing innovative, patient-friendly products for detecting gastrointestinal disorders. The company is developing a complete line of PillCam(TM) video capsules for detecting disorders of the gastrointestinal tract. The company's technology platform is the GivenŽ Diagnostic System, featuring the PillCam video capsule, a disposable, miniature video camera contained in a capsule, which is ingested by the patient. The PillCam SB capsule is a naturally ingested method for direct visualization of the entire small intestine. It is currently marketed in the United States and in more than 50 other countries and has benefited more than 340,000 patients worldwide. The PillCam ESO video capsule, which provides visual examination of the esophagus, has been cleared for marketing by the FDA. Additional capsules for visualization of the stomach and colon are under development. Given Imaging's headquarters, manufacturing, and R&D facilities are located in Yoqneam, Israel; it has direct sales and marketing operations in the United States, Germany and France, and local offices in Japan, Spain, and Australia. For more information, visit http://www.givenimaging.com.
This press release contains forward-looking statements about Given Imaging, including projections about our business and our future revenues, expenses and profitability, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, words such as "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify such forward-looking statements. Those forward- looking statements are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including but not limited to the following: changes in regulatory environment, our success in implementing our sales, marketing and manufacturing plan, protection and validity of patents and other intellectual property rights, the impact of currency exchange rates, the effect of competition by other companies, the outcome of future litigation, the reimbursement policies for our product from healthcare payors, quarterly variations in operating results, the impact of the newly adopted SFAS 123R for expensing option-based payments, the possibility of armed conflict or civil or military unrest in Israel and other risks disclosed in our filings with the U.S. Securities and Exchange Commission.
Source: Given Imaging
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