iCAD Appoints Stacey Stevens as President
Appointment establishes executive
infrastructure to enhance strategic and operational momentum and capitalize on
significant growth opportunities
Announcement follows pivotal FDA
clearance and successful U.S.
commercial launch of ProFound AI™ for digital breast tomosynthesis along
with strong financial
results reported on recent fourth quarter 2018 earnings call
Expands upon Ms. Stevens’ prior
commercialization & strategy acumen and more than 20 years of
executive-level healthcare experience to include broader operational management
responsibilities and drive the next phase of growth and innovation at iCAD
NASHUA, N.H. (March 28, 2019) – iCAD, Inc. (NASDAQ: ICAD), a global
medical technology leader providing innovative cancer detection and therapy
solutions, today announced that Stacey Stevens has been named President. As
President, Ms. Stevens will have expanded global P&L responsibility and
focus on the Company’s day-to-day operations and timely execution of key
business initiatives.
“As we continue to build our commercial
momentum with ProFound AI, strengthen our market-leading position in clinical artificial
intelligence (AI) solutions, and capitalize on increasing market demand, the
Board of Directors concluded that Stacey is well-positioned to drive iCAD’s continued
success based on her impressive track record of strategic, commercial and
increasingly operational accomplishments,” said Michael Klein, Chairman and CEO
of iCAD. “Stacey’s deep expertise in bringing revolutionary cancer detection
and therapy solutions to market, results-oriented achievements, and timely execution
of key business initiatives strongly positions her to serve in this expanded
role and execute our growth-oriented priorities.”
“With Stacey in this important
operational leadership role, I will be increasingly able to expand upon our key
strategic imperatives, many of which were outlined on our recent earnings call.
These include the expansion of our ProFound platform offering, movement into
new applications such as risk prediction, acceleration of our ProFound cloud-based
AI launch, and the targeted expansion of additional clinical AI solutions, both
within and beyond breast cancer detection,” added Mr. Klein. “With this
appointment, we will be in an even stronger position to transition iCAD into a
broad-spectrum clinical AI provider, utilizing both our expanded global commercial
infrastructure and working with targeted strategic partners.”
“iCAD’s revolutionary product portfolio
is transforming cancer care, saving lives, and reducing healthcare costs by
decreasing unnecessary procedures and streamlining workflow. I am honored to lead
the Company at this time of tremendous opportunity and look forward to
continuing to work with our talented and passionate employees to build upon our
emerging momentum, advance our strategic goals, and drive long-term growth and
value creation,” said Stacey Stevens, President of iCAD.
Since joining the company in 2006, Ms.
Stevens has held several senior executive-level roles with increasing
responsibility and has most recently served as Executive Vice President &
Chief Strategy and Commercial Officer. Under her leadership, the Company has successfully
launched leading-edge products within its cancer detection and therapy
businesses, formalized its partnership with lead breast cancer researchers at
the renowned Karolinska Institutet, accelerated development of an artificial intelligence-based
risk prediction offering, and deployed a strong commercial organization to
drive future growth.
Ms. Stevens brings more than 20 years of
global business development, sales and marketing leadership experience with
distinguished organizations such as Philips Medical Systems, Agilent
Technologies and Hewlett Packard’s Healthcare Solutions Group to iCAD. Prior to
her tenure at iCAD, she held the position of Vice President, Marketing Planning
at Philips Medical Systems, where she was responsible for the leadership of all
global marketing planning functions for Philips’ Healthcare Business. From 2003
to 2005, she was Vice President of Marketing for the Cardiac and Monitoring
Systems Business Unit of Philips where she was responsible for all marketing
and certain direct sales activities for the America’s Field Operation. Prior to
that, Ms. Stevens held several key marketing management positions in the
Ultrasound Business Unit of Hewlett-Packard/Agilent and Philips Medical
Systems. Ms. Stevens earned a Bachelor of Arts Degree in Political Science from
the University of New Hampshire, and an MBA from Boston University’s Graduate
School of Management.
About iCAD, Inc.
Headquartered in Nashua, NH, iCAD is a
global medical technology leader providing innovative cancer detection and
therapy solutions. For more information, visit www.icadmed.com.
“Safe
Harbor” Statement under the Private Securities Litigation Reform Act of
1995
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 achieve business and strategic objectives, improve its market
position, expand into new applications, reduce health care costs, 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
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“intend”, “expect”, “would”, “could”, “consider”, “project”, “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
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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,
including the 10-K for the year ended December 31, 2017, available on the
Investors section of our website at http://www.icadmed.com and
on the SEC’s website at http://www.sec.gov.
Contact:
Media Inquiries:
ARPR, on behalf
of iCAD, Inc.
Paul Barren, +1
(855) 300-8209
Investor
Relations:
LifeSci
Advisors
Jeremy Feffer, +1
(212) 915-2568