GIVEN IMAGING LTD - News Release - 2002-04-29 22:42
California Medicare Initiates Reimbursement for Capsule Endoscopy
California Medicare Initiates Reimbursement for Capsule Endoscopy
ATLANTA, Apr 25, 2002 /PRNewswire-FirstCall via COMTEX/ -- Given Imaging, Inc.
(Nasdaq: GIVN) announced today that California Medicare issued a coverage
statement for reimbursement of capsule endoscopy for the small intestine. As a
result of this announcement, California Medicare will offer capsule endoscopy
reimbursement to those among its 3,385,000 beneficiaries who may suffer from
diseases and disorders of the small intestine.
"California Medicare is taking the lead to provide coverage for diagnosing
disorders of the small intestine, which we have not been able to address
effectively until now," said Simon Lo, M.D., director of endoscopy, Cedars-Sinai
Medical Center, Los Angeles. "We expect that other insurance companies will
follow suit to allow physicians to more easily utilize this breakthrough
technology effectively and appropriately."
Given Imaging manufactures and markets the M2A(R) capsule endoscope, an
ingestible camera in a pill used to diagnose disorders and diseases of the small
intestine.
"Often elderly patients are unable to pay for new technologies out of their own
pockets. Providing a superior, non-invasive tool for the diagnosis of
debilitating diseases is exactly what Medicare is all about," said Dr. Gavriel
D. Meron, president and CEO of Given Imaging Ltd. "Clearly, the diagnostic value
of the M2A capsule endoscope has facilitated the decision of California Medicare
to take a leading position and provide coverage to this large patient base."
About Given Imaging
Given Imaging produces and markets the Given Diagnostic System, which features
the M2A(R) Capsule Endoscope, a fundamentally new approach to examining the
gastrointestinal tract. The system uses a disposable miniature video camera
contained in a capsule that is ingested by a patient and delivers high quality
color images in a painless and noninvasive manner. The test can be conducted
while a patient continues normal daily activities. The system received clearance
from the FDA in August 2001 and received permission to affix the CE mark in May
2001. It is currently available in the USA, Canada, Europe, Brazil, Puerto Rico,
Venezuela, Mexico, Australia, New Zealand, and Israel. Many thousands of
patients suffering from diseases in the small intestine such as Crohn's, celiac
disease, unexplained abdominal pain with diarrhea, polyposis, intestinal tumors,
iron deficiency anemia and obscure bleeding have already benefited from this
innovative technology. For more information, visit givenimaging.com .
This press release contains forward-looking statements, including projections
about our business, 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," "intends" 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, and other risks
disclosed in our filings with the U.S. Securities Exchange Commission.
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE Given Imaging, Inc.
CONTACT: Amy Brushwood, of Fleishman Hillard Atlanta, for Given
Imaging, +1-404-739-0121, brushwoa@fleishman.com
URL: givenimaging.com
prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
-0-
KEYWORD: Georgia
INDUSTRY KEYWORD: MTC
HEA
BIO
STOCK SYMBOLS: [(givn)] |
