Olympus to Auction its Latest Endoscopic Technology While Supporting Colorectal Cancer Research

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Auction Bid will benefit the Entertainment Industry Foundation’s National Colorectal Cancer Research Alliance (EIF’s NCCRA)

CENTER VALLEY, PA, April 22, 2010

–Olympus, a precision technology leader, creating innovative  solutions in healthcare, life science and consumer electronics products, today announced it will conduct a benefit auction of one of its EVIS EXERA II 180 HD platforms to bidders at hospitals and clinics across the U.S. The hospital or clinic with the highest bid will win a state-of-the-art endoscopy system, at below market value.  The auction is part of a larger ongoing effort from Olympus to provide access to the highest quality technology for the detection and prevention of colorectal cancer and other gastrointestinal disorders. The total value of the auction bid will go to the Entertainment Industry Foundation’s National Colorectal Cancer Research Alliance (EIF’s NCCRA) to benefit colorectal cancer research.

“As a leader in endoscopic technology, Olympus is committed to working with physicians to improve colorectal cancer detection and prevention,” said Bob Reinhardt, vice president and chief of strategy, medical and surgical business, Olympus America Inc. “Conducting a benefit auction of our Evis Exera II 180 high definition platform is an incremental step toward improving access to the latest technology while contributing funds to colorectal cancer research.” In recent years, Olympus has also donated a portion of the proceeds from its consumer products sold through the eBay Giving Works auction to benefit colorectal cancer advocacy and research. Information about the EVIS EXERA II 180 HD auction, the technology platform and the EIF’s NCCRA is available at the following site:www.olympusamerica180auction.com.

The online auction will begin on May 17, 2010 and close at 11:59 PM on May 28, 2010 at www.olympusamerica180auction.com. Minimum bids start at $50,000. The EVIS EXERA II 180 HD platform includes a cart, light source and processor, keyboard, printer, 26" monitor, suction pump, flushing pump, an HD 180 gastroscope, colonoscope, biopsy forceps, polypectomy snares and hemostasis clips. In addition to the EVIS EXERA II 180 HD platform, the winning hospital will receive free installation and three months of technical support, along with a one-year warranty. The total value of the package and support is estimated at approximately $215,000.

This imaging system is the first of its kind to deliver High-Definition Television (HDTV) and Narrow Band Imaging (NBI) technologies which provide unparalleled imaging quality. At 1080 lines, the HDTV signal from the CV-180 video processor more than doubles the number of scan lines produced by conventional systems, when used in conjunction with the new high definition GIF-H180 gastroscope or CF-H180A/L colonoscope. The resulting life-like images will offer gastroenterologists remarkably clear views of anatomical structures and fine capillaries. NBI is a real-time and on-demand technology that enables GI technicians to observe enhanced visualization of the capillary network and mucosa morphology during observation of the GI tract. For the winning hospital or clinic this system will likely upgrade its technology and has been shown to increase its polyp and adenoma detection rates.

“We are grateful to Olympus for providing us with the total value of this auction, which will be directly applied to cutting edge research on colorectal cancer, the number two cancer killer among Americans,” said  Kathleen Lobb, Senior Vice President of EIF’s NCCRA. “Colorectal cancer is one of the most treatable cancers if detected early enough, and is often entirely preventable with appropriate screening. An estimated 50,000 Americans still die every year from this disease. The donation from Olympus will provide important support to researchers pursuing a cure for colorectal cancer,” added Lobb.  

For more information about the Olympus EVIS EXERA II platform visitwww.olympusamerica.com/180, for more information about colorectal cancer visitwww.crcawareness.com, to make a bid visitwww.olympusamerica180auction.com.

About the Entertainment Industry Foundation and National Colorectal Cancer Research Alliance

The Entertainment Industry Foundation (EIF), as a leading charitable organization of the entertainment industry, has distributed hundreds of millions of dollars to support charitable initiatives addressing critical health, education and social issues.  EIF's NCCRA is dedicated to the eradication of colon cancer by promoting education about the importance of medical screening and funding cutting-edge research to develop better tests, treatments and, ultimately, a cure. The NCCRA was co-founded by journalist Katie Couric, cancer activist Lilly Tartikoff, and the Entertainment Industry Foundation in 2000. Following Couric’s on-air colonoscopy that same year, University of Michigan researchers documented a 20% increase in the number of colonoscopies performed across the country, dubbing it “The Couric Effect.”

About Olympus Medical Systems Group

Olympus serves the healthcare field with integrated product solutions and financial, educational and consulting services that help customers to efficiently, reliably and more easily achieve exceptional results. Olympus develops breakthrough technologies with revolutionary product design and functionality for the consumer and professional photography markets, and also is the leader in gastrointestinal endoscopy and clinical and educational microscopes. For more information, visitwww.olympusamerica.com.

Media Contacts

Megan Longenderfer, Olympus, (484) 896-5579,megan.longenderfer@olympus.com

Nadia Deba, GolinHarris, (212) 373-6006,ndeba@golinharris.com

Kathleen Lobb, Entertainment Industry Foundation, (212) 522-3231,klobb@EIFoundation.org

News Source : Olympus to Auction its Latest Endoscopic Technology While Supporting Colorectal Cancer Research