iCAD to acquire assets of CAD Sciences
| Company News - iCAD, Inc. |
iCAD, Inc. (NASDAQ:ICAD), provider of computer-aided detection (CAD) solutions, announced the signing of a definitive agreement to purchase the principal assets of CAD Sciences, a privately-held medical technology company based in White Plains, N.Y.
Under the terms of the agreement, iCAD will pay $2m in cash and $3m in shares of iCAD common stock. The number of shares issued will be calculated using the average closing price for the ten consecutive trading days immediately preceding the closing. This synergistic business transaction is projected by iCAD to add approximately $500,000 to its quarterly operating expenses through the balance of 2008, and the transaction is expected to close early in the third quarter of 2008, subject to certain pre-closing conditions.
CAD Sciences develops and distributes pharmaco-kinetic based CAD products that aid in the interpretation of contrast enhanced magnetic resonance imaging (MRI) images of the breast and prostate. Products are also under development by CAD Sciences for therapy monitoring, for the identification of vascular diseases using contrast enhanced magnetic resonance angiography (MRA), and for cancer detection using contrast enhanced computed tomography (CT). CAD Sciences has established clinical relationships at leading hospitals and teaching institutions worldwide with installations at Duke University, Massachusetts General Hospital, Johns Hopkins Hospital, University of Nijmegen (The Netherlands), University of Vienna (Austria), and the Universities of Essen and Cologne (Germany).
"This transaction fits perfectly with our strategic growth plan to expand iCAD's leadership position beyond mammography CAD. MRI and CT are demonstrating significant advances in the imaging sector. We believe our ability to offer outstanding image analysis and clinical decision support solutions for MRI and CT imaging will expand iCAD's ability to address the most prevalent cancers. Helping clinicians find these cancers earlier, faster and with greater confidence where awareness, early detection and monitoring are critically important and should further strengthen and broaden our market position," said Ken Ferry, President and CEO of iCAD.
"The technology platforms of our two companies are highly complementary and have the potential of delivering the most accurate detection and workflow solutions available in the imaging industry," he added. "We also see significant synergy regarding customer call points, providing our sales team with additional products to sell."
"We are proud to have developed this leading CAD technology for breast and prostate MRI and believe that its adoption by physicians will be accelerated by iCAD's strong market position in mammography CAD," said Ray Joslin, Chairman and CEO of CAD Sciences.


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- MRI No Better in Breast Cancer Staging than Mammography ; SABCS
- 3D Image guided system improves spinal surgery
- Vasovist Injection, the first contrast imaging agent approves by FDA for Magnetic Resonance Angiography
- The Use of MRI in Treatment of Back Pain
- MR Arthrography & MRI in Shoulder Injuries
- Atlas Medical Technologies expands to Florida
- AHRA and Toshiba Announce Patient First Grant Program Winners
- TeraRecon Aquarius iNtuition™ showcased in Cum Laude Award-winning exhibits at RSNA 2008
- Better MRI scans of cancers made possible by TU Delft
- MRI-guided biopsies speed treatment
- Attention on MBI touts beating mammography on sensitivity and MRI on cost
- iCAD announces availability of its SecondLook Digital with Agfa HealthCare’s Computed Radiography Systems in Europe
- Agfa HealthCare integrates Median Lesion Management Solutions with its IMPAX platform
- New Scan Reveals Bleeding Following Heart Attack
- FiatLux Imaging to Showcase Advanced Portable 3D Visualization on Philips CliniScape Mobile Clinical Assistant at RSNA 2008
- Kaleida Health Selects TeraRecon iNtuition UNLIMITED for Enterprise-wide Advanced Visualization
- Largest Radiology Group in New York Purchases Two Fonar Upright Multi-Position MRIs
- Revolutions Medical Filed for Patent Protection in Europe for its Pending MRI Patents
- Sectra and SyntheticMR extend cooperation through distribution agreement
- Clarksville Imaging Center Chooses eRAD PACS
- The Imaging Center Goes Filmless with eRAD PACS
- PACSGEAR Partners with FUJIFILM Medical Systems USA
- RamSoft Shows Web-Based Mammography Reading out of the PowerServer PACS at BIC 2008
- Infinitt is introducing Infinitt Cardiac PACS and Infinitt Smart NET
- Visage Imaging at SIIM 2008 - Providing Thinnovation for Your PACS Workflow
- TAU Develops MRI And Ultrasound Application To Recognize Malignant Tumors Before They Metastasize
- Johnson Medtech's Non-Magnetic Motors Power The World's First MRI-Guided Prostate Cancer Treatment Device
- Glendale MRI Signs Agreement to Upgrade Aspyra PACS and Implement RIS
- Hospitals Recognized For Implementing Patient Safety IT
- Digisonics, Inc. Earns 2008 Best in KLAS Award for Cardiology
- Siemens Healthcare To Provide Al Razi Healthcare, Pakistan With State-Of-The-Art Diagnostic Facilities
- Acuo Technologies, LLC Announces Image Distribution Contract with Michigan State University
- TomTec Imaging Systems meets PACS
- iCAD Introduces MRI Products To Help Improve Detection and Diagnosis of Breast Cancer
- iCAD Receives Record-High Ratings in Mammography CAD User Satisfaction
- Guidelines emphasize use of breast MRI to standard imaging
- Barco closes sale of Advanced Visualization business to Toshiba
- The SIR's 34th Annual Scientific Meeting to be held in March 2009
- GE Healthcare Installs First Series of Breakthrough Molecular Imaging Scanners Globally
- Imaging not beneficial for acute low back pain
- CAD with Full-Field Digital Mammography to Detect Early-Stage Breast Cancers
- Robarts Research Institute Installs MRI console from Varian, Inc.
- Mammogram and MRI Availability Act reintroduced
- Children’s National Medical Center acquires the CereTom Portable CT Scanner
- PACS Part III – An Assessment of Purpose
- Neuisys Announces FDA Clearance of NeuViz 16 Multi-Slice CT
- World's first MRI friendly Pacemaker sold in HK
- Leading Stroke Center Installs Toshiba’s Aquillion ONE Dynamic Volume CT
- PET/CT Enables More Appropriate Management of Suspected Metastatic Bladder Cancer
- BSGI Uncovers Additional Breast Cancer in Newly Diagnosed Breast Cancer Patients
- Trans Abdominal Ultrasound Ideal For Planning Conformational Brachytherapy in Cervical Cancer
- Traxtal Introduces PercuNav System Cart at SIR Annual Scientific Meeting
- Sonohysterography can be an Alternative Diagnostic Tool for Adenomyosis
- MRI and PET/CT Improve Chances for Optimal Treatment & minimal complications in Cervical Cancer Patients
- Two-Thirds of Advanced Radiology Services in Workers’ Compensation are Overpaid by 30-40%
- Largest municipal hospital group in Europe banks on Barco displays
- FUJIFILM Opts Out Of SIIM 2009 Exhibit
- World's First Proven Ultrasound Holographic Imaging Allows Correction of Nanoscale Subsurface Defects
- Medical Imaging and PACS
- Warren Hospital installs Toshiba's Aquilion 32
- iCAD displays CT colonography at ECR 2009
- Confirma and MEDRAD Exhibiting at the ECR 2009
- Analogic at 29th Annual Cowen Health Care Conference
- TeraRecon releases Aquarius iNtuition 4.4 at ECR 2009
- Acquired in vivo images of a mouse heart with magnetic particle imaging!
- Anesthetic Care for Magnetic Resonance Imaging Reviewed
- PET Avoids Unnecessary Procedures in Bladder Cancer
- 3D Ultrasound Helps Radiation Oncologists Define Breast Cancer Treatment Region
- Percutaneous Cryoablation Safe To Treat Small Kidney Tumors
- GE Healthcare Reaches Milestone - 500th Signa HDe 1.5T Magnetic Resonance Imaging Scanner Sold
- Freezing Prostate Cancer Does a Man's Body Good
- TeraRecon reports sales growth at ECR 2009
- Metastatic Bone Disease Patients Can Walk in Lazarus' Footsteps
- L.A.'s Newest Advanced Imaging Center Houses New GE 64-Slice PET/CT and 3T MRI in Spa-Inspired Environment
- Neurology EMR Software A new turn to medical technology
- Brain damage found in cognitively normal people with Alzheimer's marker
- Less Invasive Interventional Treatment for Abdominal Aortic Aneurysm
- Ziosoft Unveils Advanced Visualization Software Subscription
- Simple Test Helps Predict Heart Attack Risk
- Philips launches Utilization Services at ECR 2009
- Frost & Sullivan Recognizes Covidien for its CT Contrast Delivery System with RFID
- Innovative Opportunities for Healthcare Providers at HIMSS09
- Viztek’s Opal-ORTHO PACS at Precision Orthopedics’ New Facility in Salinas, CA
- Carestream RIS PACS at ECR 2009
- Interventional Radiology Makes Childbirth Safer
- Siemens Showcases Its Nuclear Medicine Innovations At BNMS 2009
- Rochester RHIO Goes Live With eHealthConnect Image Exchange to Automate Community
- VirtualScopics' Quantitative Imaging Provides Primary Endpoint in Cartilage Repair Pivotal Clinical Trial
- AOFAS Symposium Addresses Difficult to Treat Ankle Sprains
- Advanced Medical Research May Lead to Breakthroughs in the Management of Alzheimer's
- TeraRecon announces leading market share and 10,000 concurrent users for Aquarius
- Importance of Foetal MRI in Answering Clinical Questions at ECR 2009
- MRI Gains Momentum in Diagnosing And Treating Movement Disorders
- DIIG: Completes Acquisition of Canadian Teleradiology Services
- Study Tracks Increasing Use of CT on Pregnant Women
- Integrating Digital Mammography with PACS Confers Numerous Benefits for Clinicians
- Ongoing Worldwide Shortage of Medical Isotopes could Threaten Patient Care, Says Expert
- Breast-Specific Gamma Imaging (BSGI) Can Reduce the Number of Unnecessary Breast Biopsies When Compared to MRI
- Latest IMV Market Report on U.S. Mammography Centers
- First Time Portable CT Used for Skull Base Endoscopic Transnasal Surgery
- CoActiv Debuts, Automated, Managed Archiving Solution for Transitioning NDMA
- Philips Healthcare Bags Awards for Brilliance iCT 256 Slice and iCT SP 128 Slice CT Systems
- Frost & Sullivan Recognizes Excellence in Medical Technologies & Life Sciences
- Radia Inc. and Providence Regional Medical Center Everett Recognized for Quality Vascular Care
- Whole-Body CT Scan Increases Chance of Survival in Severely Injured Patients
- Rogan Delft and Pie Medical Imaging sign distribution agreement for CAAS
- TomoTherapy Announces First Middle East Installation of Hi·Art Cancer Treatment System
- St. Joseph Hospital Selects Centricity Electronic Medical Record
- MRI Study of Normal Brain Development
- TeraRecon Showcases SCCT-Compliant Aquarius iNtuition 4.4 at ACC 2009
- The Clinical Availability of CT Colonography
- Toshiba's Next Generation AIP Processor for the Infinix-I to Help Physicians on Better Diagnosis
- Access to Neurostat 3D-SSP for brain PET or SPECT analysis
- Fox Chase is First Cancer Center in the Nation to Use MRI-guided Biopsy to Detect Prostate Cancer
- Radiation Oncologist Leads National Study Of Advanced Radiation Technique
- Toshiba’s Aquilion ONE Honored with Medical Design Excellence Award
- Frost & Sullivan Honors Siemens for MR Market Leadership
- iCAD To Host First Quarter 2009 Financial Results Conference Call on April 30, 2009
- Helena Cardiology Clinic Enhances Patient Care with Toshiba 3D Speckle Tracking Capabilities
- TeraRecon Showcases Advanced Decision Support With AQi at HIMSS 2009
- Novel Medical Imaging Technique May Enable Physicians To Predict Treatment
- Siemens awarded multi-million medical imaging contract to kit out new acute hospital
- Interactive Deformation Registration of Endorectal Prostate MRI Using ITK Thin Plate Splines
- 34th Annual Spring Diagnostic Ultrasound Conference, 2009
- How Teleradiology is Affecting Other Parts of the World
- Vital Images, Inc. to Webcast Annual Meeting Thursday, May 14
- PET and CT Used to Speed-Up Determination of Chemotherapy Efficacy
- UQ Breaks New Ground in Human MRI Technology
- iCAD's PrecisionPoint MRI-Guided Interventional Planning Software Receives 510(k) Clearance
- Elekta Chosen to Deliver Sophisticated Brain Mapping Technology to the MRN
- FDA Approves Label Change For Non-Invasive Fibroid Treatment
- Latest KISANO Release to be Unveiled at the XIVth SYMPOSIUM of the BSNM in Bruges
- New Imaging Analysis Predicts Brain Tumor Survival
- UQ breaks new ground in human MRI technology
- MRI Identifies Five Causes of Complications from ACL Reconstructive Surgery, Study Research to be Presented at ARRS 2009
- RadNet Announces the Acquisition of Ten Imaging Centers
- New MR Technique May Help Save Women from Unnecessary Breast Biopsies; Study Research Presents at ARRS 2009
- MRI: Effective Tool for Determining Pathologic Stage of Prostate Cancer; Study Research to be Presented at ARRS 2009
- Non-invasive Test Accurately Identifies Gynecologic Malignancies, Study Research to be Presented at ARRS 2009
- Revolutions Medical Acquires Exclusive Rights to License FDA Approved Breast Biopsy Localization System
- 64-Slice CT: Most Dose Efficient for Evaluating Pregnant Patients with Possible Pulmonary Emboli
- Educating Referring Clinicians About Benefits/Risk of Advanced Imaging Leads to Drop in Imaging Exams
- MRI: Imaging Technique of Choice to Exam Pregnant Patients with Possible Appendicitis
- MR Enterography Eliminates Unnecessary Radiation Exposure in Patients with Small Bowel Disease
- New MR Sequence Helps Radiologists More Accurately Evaluate Abnormalities of the Uterus and Ovaries
- Pediatric Patient Body Shape may Play a Key Role in Decreasing Radiation Dose during CT Scans
- Siemens opens Healthcare Innovation and Briefing Center in Vienna
- iCAD Installs New Technology for Prostate MRI Image Analysis at Research Medical Center
- Piedmont Hospita Installs First Toshiba Infinix Systems with Next Generation Advanced Image Processing
- Barco sets up flagship reference site in one of Belgium's major general hospitals
- Aquilion ONE CT System Enables St. Vincent Healthcare to Expand Service Lines and Improve Patient Care
- Medipattern Signs Enterprise Wide B-CAD-FOR-LIFETM Contract With Zwanger-Pesiri Radiology
- GE Healthcare and Varian, Inc. Announce Pre-Clinical MRI System
- Alliance HealthCare Services to Present at the Deutsche Bank 34th Annual Healthcare Conference
- Medtronic Demonstrates Positive Results on First Pacemaker Designed for Use with MRI
- Toshiba Showcases Benefits Of New 12" X 12" Flat Panel Detector for the Infinix
- SCCT Names Finalists for Third Annual Young Investigator Award
- Toshiba Introduces New Multi-Detector CT Systems
- Barco’s novel PACS displays bring multi-modality visualization to Swedish University Hospital
- Toshiba Launches InTouch Flex Service Agreement
- iCAD Submits VeraLook to FDA Seeking U.S. Clearance of CAD Technology for Use with CT Colonography
- Ziosoft 3D Thin-Client Software Gives Impressive Performance at Stanford MDCT Conference Workstation Face-Off
- Major US healthcare group selects Sectra RIS
- Varian Medical Systems Introduces the PaxScan 3030+ X-Ray Image Detector
- Carestream Health Receives FDA Clearance For Tabletop Laser Imager For Digital Mammography, General Radiography Applications
- HIMA San Pablo Installs Toshiba Aquilion ONE In Latin America
- New diagnostic method for gout: Dual Energy CT instead of joint aspiration
- iCAD to Present at the Eighth Annual Needham and Company Biotechnology and Medical Technology Conference
- Sunnybrook Health Sciences Centre Chooses Eclipsys’ Sunrise Patient Flow
- Agfa HealthCare and Segami Corporation sign agreement to integrate Oasis image processing within the IMPAX 6 workflow
- SPECT MPI with Cardiolite Used in BARI 2D Study to Evaluate Type 2 Diabetes and Coronary Artery Disease Treatment Strategies
- TeraRecon highlights Multi-Touch, Automation and Open Interfaces for advanced visualization at SIIM 2009
- Agfa HealthCare’s IMPAX 6 introduces volumetric management features at SIIM 2009
- Confirma Sees Continued Strong Demand for MRI-CAD with the Launch of New Applications
- Presbyterian/St. Luke’s Medical Center and Rocky Mountain Hospital for Children at P/SL Install Toshiba’s Aquilion ONE Dynamic Volume CT
- GE’s Open Desktop Drives Integration of Xeleris Nuclear Medicine Suite and GE Centricity PACS
- GE Healthcare Debuts Dedicated Molecular Imaging Business at 2009 SNM Conference
- GE Healthcare Installs First Discovery PET/CT 600 in the United States at Cancer Treatment Centers of America
- Siemens Healthcare Makes Innovation Accessible with Comprehensive Molecular Imaging Solutions
- GE Healthcare’s Discovery PET/CT Family Grows to Explore Future of Molecular Imaging
- RadNet, Inc. Closes the Previously Announced Acquisition of the Nine New Jersey Centers From Medical Resources
- Dr. Neil Martin, Chief Of Neurosurgery UCLA Medical Center, To Present New Cell Phone Solution For Viewing PACS Images Remotely To Diagnose Critically Ill Patients
- Toshiba America Medical Systems Selected by the Premier Healthcare Alliance to Highlight Commitment to Healthcare Quality Improvement, Innovation
- Virginia Imaging Center Purchases Carestream Health’s Newest RIS PACS Platform
- Philips expands leadership in nuclear medicine and radiation oncology
- Foresight Imaging Achieves ISO 13485 Certification
- Medicalis delivers CDS-DI to Manitoba physicians
- Nightingale’s EMR embeds Medicalis’ Clinical Decision Support for Diagnostic Imaging
- Breakthrough Research Presented at International Radiology Meeting Finds CAD Highly Effective in Detecting Missed Cancers
- aycan installs first xray-print system in Spain
- Object Forge, Inc and NEMA signed contract
- Indiana’s Largest Health System Selects Fujifilm PACS
- Confirma Launches New Online Customer Training Center
- Medicsight Launches ColonCAD Online CTC Platform
- Image World Helps MR Therapy Centre Increase Referrals
- Digisonics acquires new contracts
- Philips Announces The Acquisition Of Traxtal – A Medical Technology Innovator In Image-Guided Procedures
- Traxtal To Introduce Next-Generation Percunav System Cart At Sir Annual Scientific Meeting
- Foresight Imaging Announces 25 Unit TIMS DICOM System Install at Baptist Health
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