MARLBOROUGH, Mass., Dec. 21, 2015 /PRNewswire/ -- Hologic, Inc. (Nasdaq: HOLX) today expressed support for new federal measures that preserve access to mammography for breast cancer screening and increase incentives for biomedical research and development. These measures were recently passed with bipartisan Congressional support and signed into law by the President.
Essential components of the Protect Access to Lifesaving Screenings (PALS) Act (H.R. 3339 and S. 1926) were included in an appropriations measure that places a two-year moratorium on implementation of any new breast cancer screening recommendations by the United States Preventive Services Task Force (USPSTF). If finalized and implemented in their current draft form, these recommendations would have allowed insurance companies to charge women ages 40-49 a co-payment or other out-of-pocket costs for mammograms, potentially limiting access for up to 22 million women.
The recently passed tax extenders legislation provides a two-year moratorium on the 2.3% excise tax charged on the sale of medical devices under the Affordable Care Act, and also makes permanent the Federal research tax credit, which recently had been extended on an annual basis.
"Hologic is grateful to the bipartisan coalition in Congress that introduced the PALS Act, which will preserve free access to mammograms for younger women who are often more likely to develop aggressive breast cancer," said Steve MacMillan, the Company's chairman, president and CEO. "We are also pleased that the tax extenders legislation increases incentives for companies to pursue innovative research and development in the United States by suspending the onerous excise tax on medical device sales, and by making permanent the federal R&D tax credit."
Hologic believes that all women should have access to the life-saving benefits of mammography for breast cancer screening, regardless of their age or ability to pay. In addition, the Company is committed to educating women about new, state-of-the-art mammograms that have been proven superior to traditional methods. Specifically, clinical studies have shown that Hologic's GeniusTM 3-D MammogramsTM can detect 41 percent more invasive breast cancers than conventional methods, while simultaneously reducing unnecessary patient call-backs by up to 40 percent.
Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems and surgical products. The Company's core business units focus on diagnostics, breast health, GYN surgical, and skeletal health. With a unified suite of technologies and a robust research and development program, Hologic is dedicated to The Science of Sure. For more information on Hologic, visit www.hologic.com.
Hologic, The Science of Sure, Aptima, Panther, ThinPrep and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
This news release may contain forward-looking information that involves risks and uncertainties, including statements about the use of the Hologic's Genius 3-D Mammograms. There can be no assurance that these products will achieve the benefits described herein, or that such benefits will be replicated in any particular manner with respect to an individual patient. The actual effect of the use of the products can only be determined on a case-by-case basis depending on the particular circumstances and patient in question. In addition, there can be no guarantee that these products will be adopted by customers or achieve any expected level of sales. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such statements are based.
References: 1) Friedewald S, Rafferty E, Rose S, et al. "Breast Cancer Screening using Tomosynthesis in Combination with Digital Mammography." Journal of the American Medical Association. 2014 July; 311(24): 2499-2507. Epub 2014 June 24. 2) Skaane P, Bandos A, Gullien R, et al. "Comparison of Digital Mammography Alone and Digital Mammography Plus Tomosynthesis in a Population-based Screening Program." Radiology. 2013 Apr; 267(1):47-56. Epub 2013 Jan 7 3) Rose S, Tidwell A, Bujnock L, et al. "Implementation of Breast Tomosynthesis in a Routine Screening Practice: An Observational Study." American Journal of Roentengenology. 2013 Jun; 200(6): 1401-1408. Epub 2013 May 22.
Vice President, Investor Relations and Corporate Communications
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SOURCE Hologic, Inc.