Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) today announced that Aetna Inc. (NYSE:AET) will cover cirrhotic patients for the screening and surveillance of esophageal varices using capsule endoscopy of the esophagus. Aetna currently serves 16.6 million medical members. The addition of Aetna's coverage policy now brings the total number of people in the US that have reimbursable access to PillCam ESO to approximately 30 million.
Aetna, the third-largest US health insurer, updated its capsule endoscopy policy effective November 9, 2007.
Dr. John M. Vierling of the Baylor College of Medicine said, "We commend Aetna for recognizing PillCam ESO and its role in the evaluation of esophageal varices in cirrhotic patients. We hope that additional payers will soon recognize the value of this non-invasive procedure to identify patients with varices so that we can use proven prophylatic therapies to reduce the risk of bleeding."
Earlier this month, Johnson & Johnson (NYSE:JNJ) unit InScope, a division of Ethicon Endo-Surgery Inc. ended its agreement to market and sell Given Imaging's PillCam ESO. Given Imaging president and CEO Homi Shamir said in response, "We are well positioned to assume full sales and marketing responsibility now."
Given Imaging closed at $24.99 on Nasdaq on Friday, giving a market cap of $729 million. The share rose 3% by mid-day on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2007
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