Healthcare Industry News: RT Technology
News Release - April 10, 2006
iCAD Signs Contract with MedAssets Supply Chain Systems for SecondLook(R) Computer-Aided Detection SystemsMedAssets Customers Now Have Access to Savings on Early Breast Cancer Detection
NASHUA, N.H., April 10 (HSMN NewsFeed) -- iCADŽ, Inc. (Nasdaq: ICAD ), an industry-leading provider of Computer-Aided Detection (CAD) solutions, and MedAssets Supply Chain Systems, a leading health care group purchasing organization, today announced an agreement that enables MedAssets' customers to purchase iCAD products at preferred pricing. The agreement includes all iCAD Film-based mammographic CAD solutions and the new TotalLook system, which acquires prior film mammograms at full image fidelity for use in comparative reading with digital mammography. The multi-year MedAssets-iCAD Purchasing Agreement became effective April 1, 2006.
MedAssets is the one of the most innovative and effective healthcare group purchasing organizations in the United States, leading the industry in flexibility with a commitment to providing supplier choice for its customers.
An increasing number of radiologists use computer-aided detection as a "second pair of eyes" when reading a mammogram. iCAD has the potential to detect findings that might otherwise be overlooked during the review process, thus increasing cancer detection. CAD technology is especially effective in identifying calcifications, some of which can be cancerous. Clinical trials demonstrated that use of the SecondLook systems could result in earlier detection of up to 25% of the cancers an average of 15 months earlier for those patients currently detected with screening mammography.
About iCAD, Inc.
iCAD, Inc. is an industry-leading provider of Computer-Aided Detection (CAD) solutions that enable healthcare professionals to identify cancer and other life-threatening conditions earlier by making medical services more effective, more accessible and more affordable for patients worldwide. Recipient of Frost & Sullivan's Growth Strategy Leadership award, iCAD offers a comprehensive range of high-performance, upgradeable CAD systems for the high, mid and low volume mammography markets. iCAD is entrusted with the task of early cancer detection by over eleven hundred women's healthcare centers worldwide. For more information, call +1 877 iCADnow or visit http://www.icadmed.com.
MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives as well as decision suppoRT Technology and services. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10% and increase net patient revenue by 1-3%. MedAssets Net Revenue Systems provides best-of-breed revenue solutions including strategic pricing, charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. MedAssets Net Revenue Systems also offers denials management and a tool to link supply cost data with charge data. MedAssets Supply Chain Systems is one of the fastest growing group purchasing organization in the U.S. and builds customized solutions encompassing procurement of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition items, and capital equipment. The newly formed MedAssets Analytical Systems offers supply chain analytics and decision support tools while clinical and operational consulting services are provided through MedAssets' subsidiary, Aspen Healthcare Metrics. Avega Health Systems, a subsidiary of MedAssets, ranked "Best in KLAS" in Business Decision Support - KLAS Enterprises, LLC 2005. For more information about MedAssets go to http://www.medassets.com or contact Gary Johnson, corporate senior vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022.
"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 risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence, increased competition, customer concentration and other risks detailed in the Company's filings with the Securities and Exchange Commission. The words "believe," "demonstrate," "intend," "expect," "estimate," "anticipate," "likely," 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.
iCAD and Second Look are registered trademarks of iCAD, Inc.
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.