iCAD Signs Distribution Agreement with Change Healthcare

Contract with market-leading enterprise imaging provider expands access to ProFound AI for hospitals and imaging centers across North America

NASHUA, N.H., Oct. 20, 2020 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it has signed a distribution agreement with Change Healthcare (NASDAQ: CHNG), a leading independent healthcare technology company focused on insights, innovation and accelerating the transformation of the U.S. healthcare system. The agreement will expand access to ProFound AI for more hospitals and imaging centers across North America.

ProFound AI for Digital Breast Tomosynthesis (DBT), or 3D mammography, is a high-performing workflow solution featuring the latest in deep-learning artificial intelligence capabilities. Intended to be used by radiologists reviewing mammography or DBT images, ProFound AI rapidly and accurately analyzes each individual image or slice and identifies potentially malignant lesions. Trained with one of the largest available 3D image datasets, it provides radiologists with crucial information, such as Certainty of Finding lesion and Case Scores, which assists in clinical decision-making and prioritizing caseloads.

“ProFound AI offers unparalleled benefits to clinicians and patients alike, including clinically proven improvements in radiologists’ sensitivity and specificity when reading 3D mammography, as well as a significant reduction in reading time,” according to Stacey Stevens, President of iCAD.

“Although ProFound AI is already available throughout a growing number of leading institutions in the U.S. and the rest of the world, we are energized by this agreement as it will enable more clinicians and women in North America to benefit from this technology,” continued Stevens. “Profound AI offers a unique solution during the era of COVID-19 and beyond, as it enables radiologists to more effectively manage the backlog of women who need to be screened this year, while also improving reading accuracy.”

Change Healthcare collaborates with payers and providers to apply insights, innovation and transformation around data and analytics solutions and services to improve clinical decision-making, simplify billing, collection, and payment processes, and enable a better patient experience.

“As Change Healthcare looks to accelerate and transform enterprise imaging with the use of AI and cloud-native solutions, we are thrilled to partner with iCAD and offer our customers the ProFound AI platform as part of our Mammography Plus solution,” said Tracy Byers, senior vice president and general manager, Imaging, Change Healthcare. “We are focused on radiologist productivity and aiding them with decision support tools that are elegantly integrated into their workflow. The integration of iCAD solutions into our digital mammography solutions will help improve patient outcomes by improving early cancer detection and enhancing clinical workflow. We could not be more excited about empowering our customers and our new partnership with iCAD.”