Given Imaging Announces New Reimbursement Code for Its

Given Imaging Announces New Reimbursement Code for Its SmartPill(R)
Wireless Motility Capsule Procedure 
2013 National Average Medicare Physician Fee set at $1,188.93 
YOQNEAM, ISRAEL -- (Marketwire) -- 01/17/13 --  Given Imaging Ltd
(NASDAQ: GIVN), a world leader in GI medical devices and pioneer of
capsule endoscopy, today announced that effective January 1, 2013,
the 2013 National Average Medicare Physician Fee allowable for its
recently acquired SmartPill(R) Wireless Motility Capsule (SmartPill)
procedure is $1,188.93. This amount differs from the previously
proposed $873.28, due to avoidance of the 27% tax cut that was
originally expected to go into effect in 2013. SmartPill's new
Category 1 CPT code is 91112. The SmartPill procedure uses
sensor-based capsule technology to measure gastric emptying, small
bowel transit, colonic transit and whole gut transit times to
evaluate motility disorders like gastroparesis and chronic
constipation. 
The company believes that this new permanent CPT code confirms the
value of the SmartPill procedure and may assist in submitting claims
electronically. Currently, there are favorable coverage policies for
the SmartPill with Medicare Palmetto GBA (J1 & 11), with 6.2 million
lives covered, and with United Healthcare, with 36 million lives
covered
. Additionally, it is anticipated that commercial payers will
also use the new allowable amount as a benchmark for their payment
based on their individual contracts. 
"We are very pleased about this new reimbursement code," said Homi
Shamir, President and CEO of Given Imaging. "We see this as an
indication of acceptance of the SmartPill technology, which is an
important and patient-friendly tool for physicians caring for
patients suffering from symptoms of GI motility disorders." 
Traditionally, patients with symptoms of upper or lower
gastromotility disorders undergo gastric emptying scintigraphy and
colonic Sitzmarks(TM) testing. Due to the expense of conducting these
types of evaluations, SmartPill can provide a cost-effective,
radiation-free alternative for measuring gastric emptying and total
GI transit times along with pH, pressure and temperature of the GI
tract. 
About SmartPill(R) motility monitoring system
 The SmartPill motility
monitoring system offers a unique way to assess motility by
collecting and analyzing data from within the entire GI tract via a
test that can be performed in the clinic or physician's office. The
test is ambulatory, allowing the patient to go about their normal
routine throughout the test. As the SmartPill capsule passes through
the GI tract, it transmits data to a recorder worn by the patient.
Once the single-use capsule has passed from the body, study data are
downloaded from the recorder to a computer. The physician then uses
MotiliGI(R) software to display and analyze the data, providing test
results in both graphical and report formats. Results are used for
the evaluation of gastroparesis and chronic constipation. The
SmartPill motility monitoring system was granted initial 510(k)
release from the U.S. Food and Drug Administration (FDA) in July
2006. 
About Given Imaging Ltd.
 Since pioneering the field of capsule
endoscopy in 2001, Given Imaging has become a world leader in GI
medical devices, offering health care providers a range of innovative
options for visualizing, diagnosing and monitoring the digestive
system. The company offers a broad product portfolio including
PillCam(R) capsule endoscopy for the small bowel, esophagus and
colon. The company also offers industry-leading GI functional
diagnostic solutions including ManoScan(TM) high resolution
manometry, Bravo(R) capsule-based pH monitoring, Digitrapper(R) pH-Z
impedance, and the SmartPill(R) motility monitoring systems. Given
Imaging is committed to delivering breakthrough innovations to the GI
community and supporting its ongoing clinical needs. Given Imaging's
headquarters are located in Yoqneam, Israel, with operating
subsidiaries in the United States, Germany, France, Japan, Australia,
Vietnam, Hong Kong and Brazil. For more information, please visit
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. Such forward-looking statements include
statements relating to the Company expl
oring strategic alternatives
and considering possible strategic transactions involving the
Company. 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
ability of the Company to reach agreement on any strategic
alternative and/or to complete any such alternative, as well as the
following: (1) our ability to develop and bring to market new
products, (2) our ability to successfully complete any necessary or
required clinical studies with our products, (3) our ability to
receive regulatory clearance or approval to market our products or
changes in regulatory environment, (4) our success in implementing
our sales, marketing and manufacturing plans, (5) the level of
adoption of our products by medical practitioners, (6) the emergence
of other products that may make our products obsolete, (7) lack of an
appropriate bowel preparation materials to be used with our PillCam
COLON capsule, (8) protection and validity of patents and other
intellectual property rights, (9) the impact of currency exchange
rates, (10) the effect of competition by other companies, (11) the
outcome of significant litigation, (12) our ability to obtain
reimbursement for our product from government and commercial payors,
(13) quarterly variations in operating results, (14) the possibility
of armed conflict or civil or military unrest in Israel, (15) the
impact of global economic conditions, (16) our ability to
successfully integrate acquired businesses, (17) changes and reforms
in applicable healthcare laws and regulations, (18) quality issues
and adverse events related to our products, such as capsule
retention, aspiration and failure to attach or detach, bleeding or
perforation that could require us to recall products and impact our
sales and net income, and (19) 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, 2011. 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 to the extent expressly
required under applicable law, the Company undertakes no obligation
to release publicly any revisions to any forward-looking statements,
to report events or to report the occurrence of unanticipated events. 
For further information contact:
Fern Lazar/David Carey
Lazar Partners Ltd.
1-212-867-1768
flazar@lazarpartners.com
dcarey@lazarpartners.com 
Israel Investor Contact:
Nava Ladin
Gelbart Kahana Investor Relations
+972-3-6074717
nava@gk-biz.com 
 
 
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