Cytyc Announces Scottish Cervical Screening System to Implement Liquid Based Cytology.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 USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) in the Scottish Cervical Screening Programme to implement liquid based cytology cytology (sītŏl`əjē), in biology, the study of the structure of all normal and abnormal components of cells and the changes, movements, and transformations of such components. . In a government news release, Scottish Health Minister Malcolm Chisholm Malcolm Chisholm (born 7 March 1949) is a Scottish Labour Party politician, and a former Scottish Executive minister. Chisholm was educated at George Watson's College and the University of Edinburgh and became an English teacher. He is married with three children. said, "By introducing liquid based cytology, Scotland is leading the way in the UK in improving the level of service that women will receive." 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 Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. (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 according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 Colposcopy Definition Colposcopy is a procedure that allows a physician to take a closer look at a woman's cervix and vagina using a special instrument called a colposcope. It is used to check for precancerous or abnormal areas. 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 cervical smear Pap smear, see there 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 Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. 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 Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. . 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 Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks detailed in the Company's filings with the Securities and Exchange Commission, including in its 2001 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Commission. |
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