Healthcare Industry News: Capsule Endoscopy
News Release - September 26, 2006
Given Imaging Announces Israel's National Health Service Will Reimburse for PillCam SBYOQNEAM, ISRAEL--(Healthcare Sales & Marketing Network)--Sep 26, 2006 -- Given Imaging Ltd. (NASDAQ:GIVN ) today announced that Israel's Ministry of Health (MOH) has approved reimbursement for PillCam SB Capsule Endoscopy for patients with iron deficiency anemia as a result of obscure gastrointestinal bleeding as well as for suspected Crohn's disease. This decision is effective immediately for Israel's 7 million citizens.
"We are pleased that the Israeli Ministry of Health has recognized PillCam SB's value in helping gastroenterologists diagnose diseases of the small bowel and anticipate additional national coverage decisions will follow," said Homi Shamir, president and CEO of Given Imaging.
Reimbursement covers patients with chronic anemia following a positive fecal occult bleeding test and negative imaging tests, and patients with suspected Crohn's disease following inconclusive diagnostic tests of the gastrointestinal tract. PillCam SB Capsule Endoscopy will be reimbursed under the code 76120.
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 380,000 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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