Healthcare Industry News: Electronic Brachytherapy
News Release - December 12, 2011
iCAD Announces Distribution Agreement with Carestream for MR Image Analysis and Mammography CADAgreement provides opportunity to further bring to market iCAD’s image analysis solutions
NASHUA, N.H.--(Healthcare Sales & Marketing Network)-- iCAD, Inc.(Nasdaq: ICAD ), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of cancer, today announced that it has entered into a global distribution agreement with Carestream Health. Under the agreement, iCAD’s MRI product suite of SpectraLook®, PrecisionPoint®, VividLook®, OmniLook®, and VersaVue® Enterprise, and iCAD’s SecondLook® Digital Multi-Vendor mammography CAD solution will be available for purchase with Carestream’s market-leading Vue PACS. iCAD’s MRI and mammography solutions assist radiologists in distinguishing potential cancers as part of their overall analysis of MRI and mammography studies.
“We are pleased to announce this partnership with Carestream Health, a worldwide leader in medical imaging technologies. It will further our goal to extend the global access of our advanced image analysis and workflow solutions for both MRI and mammography,” said Ken Ferry, President and CEO of iCAD. “In doing so, this will continue to strengthen our commitment to improving the early detection of cancer.”
iCAD’s MR product suite is a comprehensive quantitative image analysis solution that encompasses iCAD’s SpectraLook for breast image analysis, PrecisionPoint for MRI guided breast biopsies, VividLook for prostate image analysis, and OmniLook for image analysis of other organs of interest, such as liver, kidney and brain. These unique technologies offer a comprehensive quantitative image analysis suite for cancer detection, staging, localization, treatment planning and serial monitoring. When coupled with VersaVue Enterprise, iCAD’s image review and analysis software, this comprehensive solution improves the analysis workflow, interventional planning and reporting of MRI results while streamlining the radiologist’s workflow and diagnosis. iCAD’s SecondLook Digital Multi-Vendor solution allows hospitals and imaging facilities using several different brands of digital mammography systems to process cases using a single server for all input devices, eliminating the need to purchase a separate server for each manufacturer's digital mammography system.
“Our agreement with iCAD allows us to provide PACS platforms that streamline workflow, boost productivity and reduce operating costs for healthcare providers of all sizes,” said Ron Muscosky, Worldwide Product Line Manager for Carestream Health. “By combining iCAD’s advanced image analysis technologies with Carestream’s Vue PACS system we are providing radiologists with a valuable offering for imaging management.”
SpectraLook, PrecisionPoint, VividLook, OmniLook, and SecondLook Digital Multi-Vendor will be available for purchase with Carestream’s Vue PACS, and will be available as an upgrade to current customers.
About Carestream Health
Carestream Health is a worldwide provider of dental and medical imaging systems and healthcare IT solutions; molecular imaging systems for life science research and drug discovery/development; x-ray film and digital x-ray systems for non-destructive testing; and advanced materials for the precision films and electronics markets.
For more information about the company’s broad portfolio of products, solutions and services, please contact your Carestream Health representative or visit www.carestream.com.
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 (eBx). Axxent uses non-radioactive miniaturized X-ray tube technology and is FDA-cleared for 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.
"SafeHarbor" 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 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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