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iCAD Secures Contract to Supply Cancer Detection Products to Veterans Administration and Department of Defense Hospitals

^{Published on 2010-06-10 06:15:15 - Market Wire}
 

NASHUA, N.H.--([ BUSINESS WIRE ])--iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis and workflow solutions for the early identification of cancer, today announced it has signed an agreement with the Defense Supply Center to provide federal healthcare facilities including Veterana™s Administration (VA) and Department of Defense Hospitals with its Computer-Aided Detection (CAD) technology for mammography. There are over 400 federal medical treatment facilities worldwide that will now have access to CAD solutions for their mammography systems. CAD technology uses advanced algorithms to evaluate various aspects of the image data, assisting radiologists in detecting cancer by providing a visual indication of suspicious areas.

"We hope that by adding CAD, the VA and Department of Defense Hospitals will be able to identify breast cancer at an earlier stage among the women who have served or who are currently serving in our armed forces."

The Veterans Administration reported there were 1.8 million women veterans as of September 2009. The recent influx of women into the military has resulted in the formation of the Womena™s Comprehensive Healthcare Implementation Plan (W-CHIP) which has a goal of providing comprehensive primary healthcare for every woman veteran.

aiCAD is pleased to be able to offer advanced computer-aided detection technology, a potentially life-saving tool, to U.S. military veterans,a said Ken Ferry, President and CEO of iCAD. aWe hope that by adding CAD, the VA and Department of Defense Hospitals will be able to identify breast cancer at an earlier stage among the women who have served or who are currently serving in our armed forces.a

The American Cancer Society outlines recommendations for the early detection of breast cancer. Yearly mammograms are recommended starting at age 40 and continuing for as long as a woman is in good health.

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 cancer earlier. iCAD offers a comprehensive range of high-performance, upgradeable Computer-Aided Detection (CAD) systems and workflow solutions for mammography (film-based, digital radiography and computed radiography), Magnetic Resonance Imaging (MRI) and Computed Tomography (CT). Since receiving FDA approval for the Companya™s first breast cancer detection product in 2002, more than 3,500 iCAD systems have been placed in healthcare practices worldwide. iCADa™s solutions aid in the early detection of the most prevalent cancers including breast and prostate, and in the future colon and lung cancer. For more information, call (877) iCADnow or visit [ www.icadmed.com ].

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Certain statements contained in this News Release constitute aforward-looking statementsa 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 Companya™s filings with the Securities and Exchange Commission. The words abelievea, ademonstratea, aintenda, aexpecta, aestimatea, aanticipatea, alikelya, 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.