iCAD Reports Over 1,000 Licenses Sold as Part of ProFound AI Sales

Significant Percentage of Licenses Sold to Facilities with GE, Siemens, and Sites with Multiple Vendors Including Hologic and Fuji

ProFound AI for DBT Offers Superior Clinical Performance When Compared to Other Commercially Available Breast AI Systems

NASHUA, N.H., Nov. 24, 2020 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today reported that over 1,000 licenses have been sold as part of ProFound AI sales since the products were launched, signaling the rapid and wide-spread adoption of the pioneering cancer detection software solution built on artificial intelligence (AI). The sales have been distributed across all major mammography system vendors and enterprise-wide viewing applications with a significant percentage to date sold to hospitals and imaging centers with GE and Siemens, as well as facilities with more than one imaging system vendor, including Hologic and Fuji.

The solid momentum is led by the Company’s growing customer base and demand for its expanded suite of leading breast health AI solutions, including ProFound AI for both Digital Breast Tomosynthesis (DBT) and 2D mammography, and interest in the recently introduced ProFound AI Risk, which is helping to transform breast cancer screening from age-based screening to risk-adapted precision screening, individualized for each woman.

“iCAD offers the full continuum of breast health AI products—both for the detection of current breast cancers and for future risk assessment,” said Michael Klein, Chairman and CEO of iCAD. “We do so on a non-exclusive, open architecture basis, therefore allowing all global customers access to the best of breed AI software available. Of significant note is that no other breast AI solution has been shown to improve radiologists’ clinical performance when reading DBT more so than ProFound AI. Specifically, our high-performing cancer detection and workflow solution offers the highest cancer detection rate, the lowest false positive rate and a dramatic 52.7% reduction in radiologists’ reading time, representing a high level of clinical significance and advantage.”