- Company to Display the PillCam Platform at China International Medical Equipment Fair -
YOQNEAM, Israel and SAITAMA CITY, Japan, Oct. 27 /Xinhua-PRNewswire/ --
Given Imaging Ltd. (Nasdaq: GIVN), the global leader in capsule endoscopy, and Fujinon Corporation, a global leader in optical technologies and endoscopic equipment, today announced that as part of their strategic cooperation announced earlier this year Fujinon will serve as Given's master distributor for PillCam capsule endoscopy in China. Financial details were not disclosed.
"China is the only country in this region where we have regulatory approval for both PillCam(R) SB and PillCam(R) ESO and it was important that we have a strong partner to deliver our products to physicians," said Kazem Samandari, Senior Vice President, Asia Pacific/Japan Region of Given Imaging. "We look forward to expanding our collaboration with Fujinon on this important initiative for us in Asia-Pacific."
Capsule endoscopy for the small bowel was cleared in China in 2002 and capsule endoscopy for the esophagus was cleared in 2007. Fujinon has been operating in China since 1996 and has 4 offices and employs 200 people.
Given will be demonstrating the PillCam Platform at the China International Medical Equipment Fair, the largest medical device show in China and Asia, October 24 to 27 at the New International Convention and Exposition Center in Chengdu, China. For more information visit http://en.cmef.com.cn/tabid/349/Default.aspx.
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(R) 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(R) software. Given Imaging has a number of 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; 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 and is pending clearance with the United States Food and Drug Administration. More than 600,000 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 and Australia. For more information, visit http://www.givenimaging.com.
About Fujinon
Fujinon has continually developed as an optical equipment manufacturer of Fujifilm Group. The company has developed numerous products compatible with high-performance and high-quality images using the established optical techniques and provided them to the whole world. In the broadcast fields, the company developed lens compatible with Hi-Vision early and got various lineup including the 101x lens which is the highest quality zoom lens in the world, to have more than 50% of the worldwide market share. Regarding the lens unit for a mobile phone with camera function getting popular in the market, the company leads the world with high-resolution, compact lens unit using aspherical lenses.
In the fields of endoscopes, the company has developed continuously various innovative products promoted the expansion of business by introducing the products such as Double-Balloon Endoscope System, which make the examination and treatment in whole small intestine possible, endoscopic diagnostic imaging support functions FICE, and trans-nasal gastroscope which is prevailing in Japan and Asia for the examination with less pain to be inserted through the nose.
Endoscope business of the company maintains two-digit growth every year, and aims at further expansion and growth in the fields of gastroenterological endoscopy.
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 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, 2006. 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.
