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Given Imaging Announces Expansion of Distribution Relationship With FUJIFILM
FUJIFILM to Begin Selling PillCam(R) Product in Japan as of January 2009
| Source: Given Imaging
YOQNEAM, ISRAEL--(Marketwire - January 20, 2009) - Given Imaging Ltd. (NASDAQ : GIVN ) today
announced the expansion of its relationship with FUJIFILM Corporation by
entering into an agreement with FUJIFILM Medical Co. Ltd., a fully owned
subsidiary of FUJIFILM, to distribute Given Imaging's PillCam® SB product
line in Japan as of January 20th, 2009. FUJIFILM already distributes
PillCam SB in certain countries, including China, and has collaborated with
Given Imaging in research and development since 2007.
"We are pleased to expand our relationship with FUJIFILM, a worldwide
leader with a proven track record in the endoscopy market," said Homi
Shamir, President and CEO of Given Imaging. "We believe that this
partnership will provide excellent care for those patients suffering from
gastrointestinal disorders in Japan. With both Suzuken and FUJIFILM Medical
acting as distributors of the Company's products for the small bowel in
Japan, we can expand our footprint and sales in the promising Japanese
market. In addition, FUJIFILM's Double Balloon endoscope, launched in 2003
to treat diseases of the small bowel, is the perfect complement to Given
Imaging's capsule endoscopy."
"The combination of FUJIFILM's Double Balloon endoscopy with Given
Imaging's PillCam SB provides a very effective diagnostic and therapeutic
solution to physicians for treating small bowel disorders," said Hisatoyo
Kato, president and CEO of FUJIFILM Medical Co. "We are also thrilled by
the prospects of connecting the output of these two devices to the Hospital
Information Systems through our 'nexus sif' filing system."
About Given Imaging
Since 2001 Given Imaging has advanced gastrointestinal diagnosis
by developing innovative, patient-friendly tools based on its PillCam®
Platform. PillCam capsule endoscopy provides physicians with natural
images of the small intestine via PillCam SB, the esophagus through PillCam
ESO and the colon with PillCam COLON [not cleared for use in the USA]. The
PillCam capsules are miniature video cameras that patients ingest. Given
Imaging's other capsule products include Agile patency capsule, to verify
intestinal patency, and Bravo®, the only wireless, catheter-free,
48-hour pH test commercially available for pH testing to
assess gastroesophageal reflux disease (GERD). Given Imaging's products
use cutting-edge wireless technology and advanced software to
enable gastroenterologists to better diagnose and more accurately treat
patients. All Given Imaging products allow patients to maintain normal
activities. Given Imaging's headquarters, manufacturing and R&D facilities
are located in Yoqneam, Israel, with operating subsidiaries in the United
States, Germany, France, Japan, Australia and Singapore. For more
information, please 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.