Business/Technology Editors & Health/Medical Writers
BOXBOROUGH, Mass.--(BW HealthWire)--March 27, 2002
Cytyc Corporation (Nasdaq:CYTC) announced today that Scotland will invest 2.75 million pounds ($4 million USD) in the Scottish Cervical Screening Programme to implement
Mr. Chisholm made the announcement following the results of a multi-site pilot study conducted at four hospital screening centers in Scotland, to evaluate the feasibility and cost effectiveness of introducing liquid based cytology. At each of the sites, Cytyc Corporation's ThinPrep(R) Pap Test(TM) was the exclusive liquid based method used. In the Steering Group Report for the pilot study, it was noted that, "Cytyc Corporation had been selected as the commercial partner because of its well established support systems."
According to the government news release, the pilot study's main finding were that:
-- Staff taking the smear tests found liquid based cytology simpler, convenient, and easier to use.
-- Liquid based cytology reduced the workload and increased productivity in laboratories by reducing the number of inadequate smears and allowing for quicker reading times.
-- The pilot found that liquid based cytology would reduce the rate of inconclusive smears by 6 percent a year. This means that around 24,000 women a year will not be required to undergo a repeat smear.
-- More accurate smear results should result in a fall of up to 3,600 inappropriate referrals for colposcopy to investigate abnormalities a year.
-- The improved high grade detection rate facilitates health benefits for these women.
The announcement emphasized that up to 24,000 women "will be saved the stress and uncertainty of taking a repeat cervical smear test." Each year approximately 400,000 women participate in Scotland's Cervical Screening Programme.
"Fewer repeat smears means less need for specialist treatment and less stress and inconvenience for women everywhere," Mr. Chisholm added. "Improving the cervical cancer screening programme is an important part of the battle against cervical cancer and that is why we are making this major investment in liquid based cytology."
A copy of the news release from the Scottish Executive can be found at http://www.scotland.gov.uk. A copy of the Steering Group Report is available at http://www.show.scot.nhs.uk/index.htm.
Cytyc Corporation develops, manufactures, and markets products for medical diagnostic applications primarily focused on women's health. The ThinPrep(R) System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, and related reagents, filters, and other supplies. Cytyc is traded on The Nasdaq Stock Market under the symbol CYTC and is a part of the S&P Midcap 400 Index and The Nasdaq-100 Index.
Cytyc(R) and ThinPrep(R) are registered trademarks and ThinPrep(R) Pap Test(TM) is a trademark of Cytyc Corporation.
Forward-looking statements in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding anticipated product and technology performance and health care management, constitute forward-looking statements which involve risks and uncertainties which could cause actual results to differ, including, without limitation, uncertainty of product and technology development and performance, risks associated with the regulatory approval process, risks associated with the Company's dependence on a single product, uncertainty of market acceptance and additional cost, dependence on proprietary technology, dependence on timely and adequate levels of third-party reimbursement, dependence on key personnel, management of growth, limited marketing and sales experience, and limited number of customers and lengthy sales cycle, as well as risks of downturns in economic conditions generally, and in the healthcare industry specifically, risks associated with competition and competitive pricing pressures, potential liabilities and costs associated with litigation, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including in its 2001 Form 10-K filed with the Commission.