Healthcare Industry News: endoscope
News Release - October 7, 2008
Given Imaging Launches VueSpan Reading Service for PillCam(R) Video CapsulesPatient's Physician Obtains Diagnostic Results Within Five Days; Service Promises to Increase Office Productivity and Broadens Access to Expert-Level Study Interpretation
YOQNEAM, ISRAEL--(Healthcare Sales & Marketing Network)--Oct 7, 2008 -- Given Imaging (GIVN ) announced today the launch of VueSpan Diagnostic Services, a new service that facilitates the reading and interpretation of PillCam video capsule studies. VueSpan enables busy gastroenterologists to spend more time on patient care by facilitating access to an independent faculty of gastroenterologists with recognized experience in capsule endoscopy to read the video capsule studies they submit for interpretation. By facilitating clinicians' access to capsule study interpretations by experienced faculty, VueSpan can minimize the learning curve that sometimes occurs when initiating a capsule endoscopy program. PillCam capsule endoscopy is the standard of care for diagnosing small bowel tumors, occult gastrointestinal bleeding and suspected Crohn's disease.
"VueSpan is a great service for any physician looking to maximize patient care and productivity in a busy environment. It has allowed me to offer gold standard small bowel diagnosis with efficiency while collaborating with other GI physicians who are experts in their field," said Robert Fath, M.D., Scarsdale Medical Group. "VueSpan is a valuable service that will give more patients access to a tool that is clinically proven to accelerate diagnosis of many small bowel disorders."
The VueSpan service is offered by Given Imaging, makers of the PillCam® SB capsule endoscope for visualizing the small bowel and PillCam® ESO for visualizing the esophagus. VueSpan's readers have extensive experience reading PillCam studies across a variety of small bowel and esophageal diseases. Readers must be licensed in the same state in which the prescribing physician is located. Currently VueSpan is being offered in 14 states and is expanding nationwide.
"Having read more than 2,000 PillCam capsule endoscopy videos, I have a high degree of familiarity with what to look for with a broad range of small bowel pathologies," said Blair Lewis, M.D., Mt. Sinai School of Medicine, New York and a consultant to Given Imaging. "With VueSpan I can apply my expertise in this area so that other gastroenterologists get more time to spend with patients."
With the availability of VueSpan, CPT coding for PillCam capsule endoscopy is reported with modifiers appropriate for the distinct service provided. (CPT code: 91110, modifiers; (-26 professional component), (-TC technical component).
About Given Imaging Ltd.
Given Imaging is redefining gastrointestinal diagnosis by developing, producing and marketing innovative, patient-friendly products for detecting gastrointestinal disorders. The company's technology platform is the PillCam® Platform, featuring the PillCam video capsule, a disposable, miniature video camera contained in a capsule, which is ingested by the patient, a sensor array, data recorder and RAPID® software. Given Imaging markets a number of available capsules: the second-generation PillCam SB 2 video capsule to visualize the entire small intestine which is currently marketed in the United States and in more than 60 other countries; the second-generation PillCam ESO 2 video capsule to visualize the esophagus; the Agile(TM) patency capsule to determine the free passage of the PillCam capsule in the GI tract and the PillCam COLON video capsule to visualize the colon that has been cleared for marketing in the European Union. PillCam COLON has received a CE Mark, but is not cleared for marketing or available for commercial distribution in the USA. More than 750,000 patients worldwide have benefited from the PillCam capsule endoscopy procedure. Given Imaging's headquarters, manufacturing and R&D facilities are located in Yoqneam, Israel. It has operating subsidiary companies in the United States, Germany, France, Japan, Australia and Singapore. Given Imaging's largest shareholders include Elron Electronic Industries (ELRN ) (Tel Aviv:ELRN.TA ). For more information, visit http://www.givenimaging.com.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, projections about our business and our future revenues, expenses and profitability. Forward-looking statements may be, but are not necessarily, identified by the use of forward-looking terminology such as "may," "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual events, results, performance, circumstances or achievements of the Company to be materially different from any future events, results, performance, circumstances or achievements expressed or implied by such forward-looking statements. Factors that could cause actual events, results, performance, circumstances or achievements to differ from such forward-looking statements include, but are not limited to, the following: (1) our ability to develop and bring to market new products, (2) our ability to receive regulatory clearance or approval to market our products or changes in regulatory environment, (3) our success in implementing our sales, marketing and manufacturing plans, (4) protection and validity of patents and other intellectual property rights, (5) the impact of currency exchange rates, (6) the effect of competition by other companies, (7) the outcome of significant litigation, (8) our ability to obtain reimbursement for our product from government and commercial payors, (9) quarterly variations in operating results, (10) the possibility of armed conflict or civil or military unrest in Israel, and (11) other risks and factors disclosed in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, risks and factors identified under such headings as "Risk Factors," "Cautionary Language Regarding Forward-Looking Statements" and "Operating Results and Financial Review and Prospects" in the Company's Annual Report on Form 20-F for the year ended December 31, 2007. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except for the Company's ongoing obligations to disclose material information under the applicable securities laws, it undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
Source: Given Imaging
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