Healthcare Industry News: computer-aided detection
News Release - June 29, 2011
iCAD’s VeraLook(R) for CT Colonography Now Available with Vital Images’ ProductsFDA-Cleared CAD solution helps to detect colonic polyps
NASHUA, N.H.--(Healthcare Sales & Marketing Network)-- iCAD, Inc. (Nasdaq:ICAD ), an industry leading provider of advanced image analysis and workflow solutions for the early identification of cancer, today announced the commercial availability of iCAD’s VeraLook CTC CAD solution integrated into Vital Images’ products as a result of a strategic partnership agreement signed earlier this year. Vital Images is a Toshiba Medical Systems Group Company and the leading provider of advanced visualization and analysis solutions for healthcare providers. With this agreement, iCAD’s VeraLook CTC CAD solution is now available as part of Vital Images’ products worldwide.
“The vast majority of colorectal cancer deaths are preventable with early screening, and CT Colonography has the potential to eliminate many of the traditional barriers to routine colorectal screening,” said Ken Ferry, President and CEO of iCAD. “We are enthusiastic about the broad potential of this agreement and look forward to working with Vital Images to leverage our combined powerful visualization, detection, and workflow tools to significantly improve colon cancer detection and enhance workflow for radiologists and their patients throughout the world.”
VeraLook is designed to detect and highlight potential polyps during CTC examinations. Extensive testing with radiologists has demonstrated that the use of VeraLook improved reader sensitivity to all colonic polyps in a statistically significant manner – particularly for smaller, more easily missed polyps and pre-cancerous polyps which can develop into malignancies over time. VeraLook has also demonstrated high standalone sensitivity to detecting polyps, while generating a low number of clinically acceptable false positive marks on CTC images.
About iCAD, Inc.
iCAD, Inc. is an industry-leading provider of advanced image analysis and workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier. iCAD offers a comprehensive range of high-performance, upgradeable computer-aided detection (CAD) systems and workflow solutions for mammography, Magnetic Resonance Imaging (MRI) and Computed Tomography (CT). iCAD recently acquired Xoft, Inc., developer of the Axxent® eBx™ electronic brachytherapy system. Axxent uses non-radioactive miniaturized X-ray tube technology and is FDA-cleared for the treatment of early stage breast cancer, skin cancer and endometrial cancer. The Axxent System is also cleared for use in the treatment of other cancers or conditions where radiation therapy is indicated including Intraoperative Radiation Therapy (IORT). For more information, call (877) iCADnow or 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 defend itself in litigation matters, the Company’s ability to identify a replacement for the Axxent FlexiShield Mini, the risks relating to the Company’s acquisition of Xoft including, the expected benefits of the acquisition may not be achieved in a timely manner, or at all; the Xoft business operations may not be successfully integrated with iCAD’s and iCAD may be unable to achieve the expected synergies, business and strategic objectives following the transaction, 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. 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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