Given Imaging's Capsule Endoscope to be Reimbursed by Anthem Blue Cross and
Blue Shield Increasing U.S. Reimbursement Momentum for M2A(R) Capsule Endoscope
Date:
Tue, 14 May 2002 06:26:54 -0700
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Given Imaging's Capsule Endoscope to be Reimbursed by Anthem Blue Cross
and Blue Shield
Increasing U.S. Reimbursement Momentum for M2A(R) Capsule Endoscope
ATLANTA, May 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Given Imaging, Inc.
(Nasdaq: GIVN) announced today that Anthem, Inc. has issued a coverage statement
for reimbursement of capsule endoscopy for the small intestine. Anthem has
members in Indiana, Kentucky, Ohio, Connecticut, New Hampshire, Colorado, Nevada
and Maine. As a result of this announcement, that follows California Medicare's
recent policy decision, more than 10 million insured patients in nine U.S.
states are eligible for reimbursement for capsule endoscopy. Both payors have
approved coverage under an endoscopy code.
"Blue Cross and Blue Shield reimbursement coverage is a significant step toward
establishing the M2A Video Capsule test as a new standard of care in detecting
abnormalities of the small intestine," said Douglas Rex, Professor of Medicine,
Indiana University School of Medicine and Director of Endoscopy, Indiana
University Hospital. "The M2A Capsule provides superior diagnostic yields versus
traditional technology in detecting these abnormalities."
Given Imaging manufactures and markets the M2A capsule endoscope, an ingestible
camera in a pill used to diagnose disorders and diseases of the small intestine.
"Anthem Blue Cross and Blue Shield has a history of leadership in delivering
quality, state-of-the-art medical care to their members and their decision to
provide coverage for the M2A capsule endoscope underscores its value in
diagnosing gastrointestinal disorders," said Dr. Gavriel D. Meron, president and
CEO of Given Imaging Ltd. "The increasing reimbursement momentum, combined with
the data on nearly 1,000 patients being presented next week at Digestive Disease
Week, should lead to greater acceptance and use of the M2A capsule."
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 33 countries worldwide, including the USA,
Canada, Europe, Central and South America and Asia. 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. |
