Given Imaging Announces 500,000th PillCam(TM) SB Capsule Milestone
YOQNEAM, ISRAEL -- (MARKET WIRE) -- March 12, 2007 -- Given Imaging (NASDAQ: GIVN) announced
today the sale of the 500,000th PillCam™ SB video capsule. Launched
approximately five years ago, Given Imaging is the leader in advancing
capsule endoscopy, a safe and effective diagnostic tool for detecting
disorders of the GI tract. Today, PillCam capsule endoscopes are being
used in more than 60 countries around the world.
"Ten years ago, no one believed that it was possible to fit a camera within
a capsule so small that it could be swallowed," said Homi Shamir, president
and CEO of Given Imaging. "Today, that dream is a reality. When we
started this journey, we focused our efforts on the small bowel. Today, we
have expanded our product portfolio with additional capsules for the
esophagus and colon. This milestone reflects the growth and value of our
Company and our innovative technology and shows that patients and
physicians prefer safe, patient-friendly GI diagnostic procedures. We
would like to thank gastroenterologists from around the world for their
support in adopting PillCam capsule endoscopy to improve patient care."
"Capsule endoscopy is one of the most important innovations in the history
of endoscopy and holds promise to transform diagnostic and screening
endoscopy in the near future," said Christopher J Gostout, M.D., Past
President of the American Society of Gastrointestinal Endoscopy. "The
ongoing and accumulated clinical experience with capsule endoscopy of the
small intestine has proven its value as a primary examination of the small
intestine."
The PillCam SB video capsule is used to visualize the small bowel. Given
Imaging also developed, manufactures and sells the PillCam™ ESO, used by
physicians to visualize the esophagus and developed PillCam™ COLON to
visualize the colon. PillCam COLON is cleared for sale in the EU and is
pending FDA clearance. Instead of using traditional tube-like endoscopes,
capsule endoscopy allows the patient to swallow a pill-sized camera that
captures images of the GI tract as it travels through the body.
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 has three commercially available capsules: the PillCam SB video
capsule to visualize the entire small intestine which is currently marketed
in the United States and in more than 60 other countries; the PillCam ESO
video capsule to visualize the esophagus; and the Agile™ patency capsule
to determine the free passage of the PillCam capsule in the GI tract. The
PillCam COLON video capsule to visualize the colon has been cleared for
marketing in the European Union, and multi-center clinical trials are
underway in Europe and the U.S. A capsule to visualize the stomach is
under development. More than 500,000 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 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 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) satisfactory results of clinical trials with PillCam
COLON (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 future litigation, including patent
litigation with Olympus Corporation, (8) the reimbursement policies for our
product from healthcare payors, (9) quarterly variations in operating
results, (10) the impact of the newly adopted SFAS 123R for expensing
option-based payments, (11) the possibility of armed conflict or civil or
military unrest in Israel, and (12) 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, 2005. 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.
Contact Information: For further information contact:
Fern Lazar/David Carey
Lazar Partners Ltd.
1-(866) GIVEN-IR
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