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Given Imaging Selected as 2007 World Economic Forum Technology Pioneer
| Source: Given Imaging
YOQNEAM, ISRAEL -- (MARKET WIRE) -- December 5, 2006 -- Given Imaging Ltd. (NASDAQ : GIVN ) today
announced that The World Economic Forum has selected the Company as one of
its Technology Pioneers for 2007. Technology Pioneers are companies that
have been identified as developing and applying highly transformational and
innovative technologies in the areas of energy, biotechnology and health,
and information technology.
Over 225 companies were nominated for this prestigious honor with the final
selection made by a panel of leading technology experts appointed by the
World Economic Forum. Homi Shamir, Given Imaging's president and CEO, will
join many of the winners at the Annual Meeting of the World Economic Forum
to be held in Davos, Switzerland January 24 - 28, 2007.
Homi Shamir, Given Imaging's president and CEO said, "Similar to the movie
the 'Fantastic Voyage' we are continuing on our journey through the
gastrointestinal tract. It began in 2001 with PillCam SB. PillCam ESO soon
followed and now we are on to PillCam COLON. We look forward to continuing
this journey of discovery and innovation in the years ahead."
To be selected as a Technology Pioneer, a company must be involved in the
development of life-changing technology innovation and have the potential
for long-term impact on business and society. In addition, it must
demonstrate visionary leadership, show all the signs of being a
long-standing market leader -- and its technology must be proven. Previous
Technology Pioneers have included Google, Autonomy, Cambridge Silicon
Radio, Encore Software, Millennium Pharmaceuticals and Napster.
"The competition to become a Technology Pioneer has been more intense than
ever. It is evident that technology and innovation is playing a key role in
the shifting power equation at a global level. Driving this shift is the
tremendous amount of innovation taking place outside of traditionally hubs.
The wide geographic spread of this year's Technology Pioneers is a
testament to this trend. We are pleased to welcome these exciting companies
to our Community of Technology Pioneers, and look forward to engaging these
industry leaders of the future into the community of the World Economic
Forum," said Peter Torreele, Managing Director of the World Economic Forum.
For the complete list of Technology Pioneers and a CEO interview with Homi
Shamir visit www.weforum.org/techpioneers/2007.
About the World Economic Forum
The World Economic Forum (http://www.weforum.org), based in Geneva,
Switzerland, is an independent organization committed to improving the
state of the world. Funded by the contributions of 1,000 of the world's
foremost corporations, the Forum acts in the spirit of entrepreneurship in
the global public interest to further economic growth and social progress.
The Forum serves its members and society by creating partnerships between
and among business, political, intellectual and other leaders of society to
define, discuss and advance key issues on the global agenda. Incorporated
in 1971 as a foundation, the World Economic Forum is impartial and
not-for-profit, and is tied to no political, partisan or national
interests. In 1995 the Forum was awarded NGO consultative status with the
Economic and Social Council of the United Nations.
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 has three 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 50 other countries; the PillCam ESO
video capsule to visualize the esophagus; and the Agile™ patency capsule
to determine the free passage of the PillCam capsule in the GI tract. The
PillCam COLON video capsule to visualize the colon has been cleared for
marketing in the European Union, and multi-center clinical trials are
underway in Europe and the U.S. A capsule to visualize the stomach is under
development. More than 400,000 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
direct sales and marketing operations in the United States, Germany and
France, and local offices in Japan, Spain and Australia. For more
information, visit http://www.givenimaging.com.
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) 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 impact of the newly adopted SFAS 123R for expensing
option-based payments, (11) the possibility of armed conflict or civil or
military unrest in Israel, and (12) 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, 2005. 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.