NEW YORK, Mar. 7 /PRNewswire-FirstCall/ -- MGT Capital Investments, Inc. (AMEX:MGT), a holding company focused on the Healthcare Information Technology ("HCIT") sector, today commented on the American Cancer Society's (ACS) decision to add Computerized Tomography Colonography ("CTC") to its colon cancer screening guidelines. MGT Capital Investment's Medicsight PLC subsidiary, traded in London on the AIM exchange under "MDST," is an industry leader in the development of Computer-Aided Detection (CAD) and image analysis software that assists in the early detection and diagnosis of disease.
The ACS said, "Provided that advanced, proven techniques are employed in the clinical setting, CTC is included in the guidelines as an option for colorectal cancer screening and prevention in average-risk adults aged 50 years and older." The guidelines reflect the growing endorsement for CTC screening, also known as virtual colonoscopy ("VC"), by the ACS and the ACR, and by the three major gastrointestinal societies: the American Gastroenterological Association (AGA), the American Society for Gastrointestinal Endoscopy (AGSE), and the American College of Gastroenterology (ACG).
David Sumner, Chief Executive of Medicsight, said, "We are delighted that the ACS has decided to include CTC in the panel of tests that physicians have at their disposal when screening for colorectal cancer. The ACS endorsement is expected to lead to routine reimbursement for CTC and thereby to a material increase in the use of CTC for screening those populations who are most at risk of developing this devastating condition. Medicsight's ColonCAD(TM) software for CT imaging equipment helps radiologists to interpret CT scans and to identify early-stage lesions. We expect the Company and its CAD software to be an important beneficiary of wider use of CTC screening." Colorectal cancer is the second leading cause of cancer death in the US. However when detected early the survival rate is high. Those most at risk, aged 50 or older, are recommended to be screened regularly. However as the conventional optical colonoscopy procedure, involving the insertion of a flexible metal tube into the colon is very uncomfortable less than half actually undergo colonoscopy. CTC scanning, which Medicsight has honed with its superior ColonCAD(TM) software, offers patients with an alternative routine screening method for early detection, which is non-invasive and more comfortable.
The guidelines, titled Screening and Surveillance for the Early Detection of Colorectal Cancer and Adenomatous Polyps, 2008, were jointly released by the ACS, the U.S. Multi-Society Task Force on Colorectal Cancer, and the American College of Radiology. Under these guidelines the accepted testing options for the early detection of colorectal cancer include the following: -- CTC (recommended every five years);
-- colonoscopy (recommended every 10 years);
-- flexible sigmoidoscopy (recommended every five years);
-- double contrast barium enema (recommended every five years);
-- annual guaiac fecal occult blood testing (gFOBT); and
-- annual faecal immunochemical test (FIT). The ACS decision to add CTC to the guidelines is based on the outcomes of recent large clinical studies confirming that CTC is comparable to optical colonoscopy for detecting cancer and polyps of significant size when state-of- the-art techniques are applied. Positive clinical studies published in recent months include the National CT Colonography Trial (ACRIN 6664), research from the University of Wisconsin Medical School in Madison published in the New England Journal of Medicine, the IMPACT trial from Italy, and the Munich Colorectal Cancer Prevention Trial.
Dr. Perry Pickhardt, an associate professor from the University of Wisconsin Medical School and a widely recognized expert on CTC, said: "This exciting development should lead to widespread reimbursement for CTC screening by third-party payors, which is the final remaining barrier to actual large- scale implementation throughout the US." About MGT Capital Investments, Inc.
MGT Capital Investments, Inc is a holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange PLC.
Medicsight PLC (AIM: MDST) is a leading developer of computer-aided detection (CAD) software solutions. Medicsight's CAD solutions help clinicians utilizing Computed Tomography (CT) scans to identify, measure and analyze suspicious pathology within the colon and lungs. The Medicsight CAD products are validated against one of the world's largest databases of verified CT scan data collected from leading healthcare institutions from around the world. Medicsight products allow Radiologists and physicians to review scans more quickly and accurately -- saving both time and lives Medicexchange PLC provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.
Additional information can be found at http://www.mgtci.com/.
All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission. DATASOURCE: MGT Capital Investments, Inc.
CONTACT: Investors, Todd Fromer, +1 212-896-1215, or Media, Garth Russell, +1-212-896-1250, , both for MGT Capital Investments, Inc.
Web site: http://www.mgtci.com/
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