Endoscopic capsule maker Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) has signed a three-year strategic agreement with Japan’s Fujinon Corporation, a developer of optical technologies and endoscopic equipment. The companies did not disclose the size of the deal.
The agreement aims at building closer collaboration between the companies in research and development, component sourcing, marketing and product distribution worldwide except in Japan. The companies will jointly develop future products for the gastrointestinal endoscopy and diagnostic field.
Fujinon will have non-exclusive rights to distribute Given Imaging’s capital equipment and small bowel products, including Given Imaging’s RAPID workstation and data recorders, PillCam SB, and Agile Patency capsules in certain countries worldwide, which will be determined by the two companies on a case-by-case basis.
Given Imaging president and CEO Homi Shamir said, “We are pleased to be working closely with a world leader in medical imaging technology. Together with Fujinon, we will work to develop the next generation of less-invasive gastrointestinal products, leveraging on the combined resources and technologies of both companies to provide more effective treatment options for patients with gastrointestinal disorders. We believe this agreement will immediately strengthen our competitive position around the world and reaffirm our technology leadership.”
Fujinon president Takeshi Higuchi said, “We are proud to be collaborating with Given Imaging, a proven innovator in the GI field,” said “Being able to offer Given’s capsule endoscopy products alongside our own product portfolio gives our customers a powerful set of diagnostic and therapeutic tools and solidifies our position as the leading provider of GI Imaging solutions. We are confident that the venture between our companies will result in additional innovative benefits to patients worldwide.”
Published by Globes [online], Israel business news - www.globes.co.il - on April 11, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007