NASHUA, N.H., Nov. 30 /PRNewswire-FirstCall/ -- iCAD(R), Inc. , an industry-leading provider of Computer-Aided Detection (CAD) solutions, today announced that its SecondLook systems for the computer aided detection of breast cancer have been selected for use in the new “Million Women Breast Cancer Screening” to be undertaken by the Chinese Anti-Cancer Association. Breast cancer is a growing women’s health issue in China, and the Million Women Breast Cancer Screening program is intended to increase early detection throughout the world’s most populous nation. The Chinese Anti-Cancer Association has entered into a five-year agreement with iCAD’s reseller in China for a minimum of one hundred SecondLook film-based CAD systems. iCAD has received the first order under this agreement, in the amount of approximately $426,000, for twenty film-based CAD systems that are designed and configured for the Chinese agency. The Company expects these systems to be shipped to the customer in December 2005.
“We are particularly pleased,” observed Scott Parr, President and CEO of iCAD, Inc., “to join with the Chinese Anti-Cancer Association in creating a new and growing awareness of the risks of breast cancer and in improving the early detection and treatment of such cancer throughout China, a nation of 1.3 billion people.”
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. A 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. The Company is entrusted with the task of early cancer detection by over eleven hundred women’s healthcare centers worldwide. iCAD, Inc. is headquartered in Nashua, New Hampshire and its stock is listed on The Nasdaq Stock Market. For more information, call +1 877 iCADnow or visit http://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 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 SecondLook are registered trademarks and TotalLook is a trademark of iCAD, Inc.
* Frost Sullivan, 2005 European Mammography Systems Market Report, 2004 Mammography Market Report
iCAD, Inc.
CONTACT: Investor relations: Kevin McGrath of Cameron Associates,+1-212-245-4577, kevin@cameronassoc.com, for iCAD
Web site: http://www.icadmed.com/
