iCAD Named a Top Artificial Intelligence Medical Imaging Solution Provider by Healthcare Tech Outlook

PowerLook® Tomo Detection Cited for Innovations in Early Breast Cancer Detection and Supporting Efficient Radiology Workflow

Nashua, N.H. (February 8, 2018) – iCAD, Inc. (NASDAQ: ICAD), a global leader in medical technology providing innovative cancer detection and therapy solutions, today announced that the company has been named one of the "Top 10 Artificial Intelligence Solution Providers” of 2018 by Healthcare Tech Outlook magazine. iCAD was recognized for its innovative PowerLook® Tomo Detection solution, which leverages artificial intelligence (AI) to improve efficiency and workflows of radiologists tasked with reading digital breast tomosynthesis (DBT) images.

“iCAD is pioneering the use of AI in women’s health; supporting radiologists worldwide with breast cancer diagnosis through innovative software solutions that address the data overload they face with breast tomosynthesis, as they currently produce exponentially more images to assess for each patient,” said Diane Clifford, Director of Marketing of iCAD.

Early detection and progressive treatments are critical to saving the lives of the majority of women diagnosed with breast cancer. New 3-D mammography, also known as DBT, is making it possible to identify abnormalities more accurately and earlier than traditional scans. However, DBT is more labor-intensive for radiologists, who must sort through hundreds of images related to a single mammogram, compared to just four images produced with traditional 2-D mammography.

As the first and only FDA-approved concurrent-read cancer detection solution for breast tomosynthesis, iCAD’s PowerLook Tomo Detection simplifies this process for radiologists. Utilizing a trained algorithm developed through deep learning, the system automatically analyzes each tomosynthesis plane and identifies suspicious areas. These findings are then blended into a 2-D synthetic image, providing radiologists with a single, highly sensitive, enhanced image from which they can easily navigate the tomosynthesis datasets. PowerLook Tomo Detection enables radiologists to combine their own expertise with the power of AI to improve their reading efficiency and streamline workflows, while supporting faster cancer detection without compromising clinical performance.

“AI is fundamentally changing the healthcare landscape, offering tools and insights that can significantly improve patient care,” said Ken Ferry, CEO of iCAD. “With the success of PowerLook Tomo Detection, we believe iCAD is at the forefront of AI innovation. Moreover, we are committed to continuous developments and improvements that support healthcare professionals to provide quality care to women worldwide as it relates to breast health.”

Since its FDA-approval in March 2017, PowerLook Tomo Detection has been implemented by numerous leading breast health provider organizations throughout the United States.  The solution has also received CE Mark and was licensed by Health Canada in 2016 and its adoption continues to grow throughout Europe and Canada.

While currently only available for GE Healthcare’s DBT platforms, iCAD expects to offer a multi-vendor PowerLook Tomo Detection solution in 2018.

About iCAD, Inc.

Headquartered in Nashua, N.H., iCAD is a global leader in medical technology providing innovative cancer detection and therapy solutions. For more information, visit www.icadmed.com.

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Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to the Company’s ability to defend itself in litigation matters, to achieve business and strategic objectives, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe,” “demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

 

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