Contact Information: For further information contact: Fern Lazar/David Carey Lazar Partners Ltd. 212-867-1768
Study Shows PillCam(R) ESO Reduces Prison Health Care Costs by 90% for Cirrhotic Patients
Risks Minimized Through On-Site Screening Tool for Esophageal Varices
| Source: Given Imaging
YOQNEAM, ISRAEL--(Marketwire - October 6, 2008) - Given Imaging Ltd. (NASDAQ : GIVN ) today
announced data from a pilot study that demonstrate the Company's PillCam®
capsule endoscopy of the esophagus can significantly reduce health care
costs in a prison population through on-site evaluation of esophageal
varices in cirrhotic patients. Results were presented at Poster Session II
(Abstract # P-648) of the Annual Scientific Meeting of the American College
of Gastroenterology (ACG) 2008 taking place in Orlando, Florida, October 3
to 8, 2008.
In a pilot study conducted within the Georgia Department of Corrections,
the first prison in the United States to receive accreditation by the
American Medical Association for its health care delivery services, PillCam
ESO was used to evaluate five inmates with cirrhosis for varices, which
were identified in two of them. Health care savings were calculated based
on the estimated expense for prisoner transfer to a site that performs
esophagogastroduodenoscopy (also known as EGD or upper endoscopy) and the
standard charges for the EGD procedure compared with expenses for PillCam
ESO capsule and remote interpretation of video results.
"Significant cost savings can be achieved when screening for varices within
a prison population by bringing the PillCam ESO equipment and the procedure
to the patient at the incarceration site where a trained nurse can
administer the test and a physician can then remotely interpret results,"
said Robert Schade, MD, Professor of Medicine, Chief, Gastroenterology,
Medical College of Georgia.
In addition, study co-author, Iryna Hepburn, MD, noted, "This screening
method, combined with remote interpretation, may provide a useful tool for
providing expert interpretation of GI disorders in remote or rural
settings, where patients have limited access to specialist care."
"PillCam ESO 2 capsule can deliver an estimated 90 percent savings equal to
$4,200 per patient in prison health care costs, when compared to costly
patient transport to a prison site that performs EGD and the standard
charges for the procedure," said Israel Raz, Chief Marketing Officer, Given
Imaging. "Of equal importance, safety of the corrections personnel and
general populace is improved by bringing the video capsule to the patient
and eliminating the need for inmate transport."
Esophageal varices (enlarged veins) can occur as a complication of
cirrhosis and/or fibrosis of the liver. As liver cirrhosis advances, blood
is restricted from flowing through the liver, which can cause esophageal
veins to enlarge. It's vital to check for the initial appearance of these
enlarged veins, or varices, and then to monitor for any increase in size.
Roughly one-fourth of these varices eventually start to bleed and 10% to
20% of patients die within six weeks of the bleeding episode. The
prevalence of liver disease among prisoners is high and is attributed to
the population's high level of engagement in risky behaviors.
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™ 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
(NASDAQ:ELRN) (TELAVIV:ELRN). For more information, visit
http://www.givenimaging.com.
Forward-Looking Statements
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.