iCAD, Inc. (NASDAQ: ICAD) a global leader in clinically proven
AI-powered cancer detection solutions, today announced a strategic
agreement with Windsong Radiology Group, one of US Radiology
Specialists, Inc.’s national network of premier providers of
diagnostic imaging services located in Western New York. This
relationship aims to implement iCAD’s ProFound AI Breast Health at
Windsong Radiology center locations.
The ProFound AI Breast Health Suite utilizes
artificial intelligence to improve the accuracy and efficiency of
mammography readings, thereby reducing false positives and
unnecessary biopsies. This technology helps to augment radiologists
by providing a concurrent read of screening and diagnostic
mammograms, often enhancing early detection of breast cancer.
“We are thrilled to collaborate with US Radiology to bring our
advanced AI-powered mammography solutions to a broader patient
base,” said Dana Brown, CEO of iCAD, Inc. “This agreement aligns
with our mission to create a world where cancer can’t hide and
ensure that all patients have access to AI’s capabilities to detect
cancer earlier.”
As a leader in women's imaging, Windsong Radiology is setting
the standard by adopting the latest advancements in imaging
technology. “Our practice is dedicated to clinical excellence for
our patients. We are committed to bringing in new innovations that
continue to further enhance our radiology expertise and offerings’”
said Dr. Raja Cheruvu, President at Windsong Radiology. “We are
excited to offer iCAD’s breast AI solutions to our community, a
technology to remain at the forefront of breast cancer detection
and treatment.”
US Radiology shares this commitment to leveraging cutting-edge
technology to provide world-class radiology services across its
more than 175 outpatient imaging centers that span 13 states.
“Integrating iCAD’s ProFound AI Breast Health Suite into our
screening services represents a significant step forward in our
ongoing efforts to offer the highest quality imaging services,”
said Gerry Lewis, Chief Information Officer of US Radiology
Specialists. “This collaboration with iCAD underscores our
dedication to utilizing next-generation technology to enhance
patient centered outcomes.”
This strategic commercial agreement represents an advancement in
breast cancer detection and patient care to advance the standard of
care for women.
ProFound Breast Health
Suite
iCAD’s ProFound Breast Health Suite consists of
solutions for cancer detection, risk evaluation and breast density
assessment. ProFound AI for DBT improved radiologist sensitivity by
8% and reduced unnecessary patient recall rates by
7.2%.[i] The ProFound Risk[ii] platform has a proven
track record of predicting the risk of breast cancer 2.4x more
accurately in the next year than traditional lifetime risk
models.[iii],[iv] iCAD’s ProFound Density Assessment uses
mammography images to categorize breast density, leading to
personalized patient care plans with supplemental screenings and a
custom schedule.
About US Radiology Specialists,
Inc.
US Radiology is one of the country’s premier
providers of diagnostic imaging services. With over 5,000 team
members and more than 175 outpatient imaging centers across 13
states, our team conducts more than 8 million studies annually. Our
partnership of leading subspecialized radiology groups,
high-quality imaging centers, and joint ventures with top health
systems is built around a commitment to best-in-class clinical
excellence, operations, infrastructure, and state-of-the-art
technology.
About Windsong Radiology
Windsong Radiology is a comprehensive healthcare
resource for Western New York, offering diagnostic imaging, breast
imaging, breast surgery, radiology, vein care and genetic
counseling. Windsong was the first breast care program in the
region to achieve accreditation by the National Accreditation
Program for Breast Centers with a goal of assisting newly diagnosed
breast cancer patients through early detection and rapid diagnosis
and consultation, and on to leading edge treatment options and a
survivorship program. Since 2017, Windsong has operated Windsong
Mobile Mammo, providing on-site screenings across the eight
counties of Western New York. With offices in Amherst, Lancaster,
Williamsville, Snyder, West Seneca and Hamburg, Windsong provides
the high quality care that patients and healthcare providers trust
that’s convenient, cost-effective. Learn more at
WindsongWNY.com.
About iCAD, Inc.
iCAD, Inc. (NASDAQ: ICAD) is a global leader on
a mission to create a world where cancer can’t hide by providing
clinically proven AI-powered solutions that enable medical
providers to accurately and reliably detect cancer earlier and
improve patient outcomes. Headquartered in Nashua, N.H., iCAD’s
industry-leading ProFound Breast Health Suite provides AI-powered
mammography analysis for breast cancer detection, density
assessment and risk evaluation. Used by thousands of providers
serving millions of patients, ProFound is available in over 50
countries. In the last five years alone, iCAD estimates reading
more than 40 million mammograms worldwide, with nearly 30% being
tomosynthesis. For more information, including the latest in
regulatory clearances, please visit www.icadmed.com.
Forward-Looking Statements
Certain statements contained in this News
Release constitute “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995, including
statements about the expansion of access to the Company’s products,
improvement of performance, acceleration of adoption, expected
benefits of ProFound AI®, the benefits of the Company’s products,
and future prospects for the Company’s technology platforms and
products. Such forward-looking statements involve a number of known
and unknown risks, uncertainties, and other factors that 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
Company’s ability to achieve business and strategic objectives, the
willingness of patients to undergo mammography screening in light
of risks of potential exposure to Covid-19, whether mammography
screening will be treated as an essential procedure, whether
ProFound AI will improve reading efficiency, improve specificity
and sensitivity, reduce false positives and otherwise prove to be
more beneficial for patients and clinicians, the impact of supply
and manufacturing constraints or difficulties on our ability to
fulfill our orders, uncertainty of future sales levels, to defend
itself in litigation matters, protection of patents and other
proprietary rights, product market acceptance, possible
technological obsolescence of products, increased competition,
government regulation, changes in Medicare or other reimbursement
policies, risks relating to our existing and future debt
obligations, competitive factors, the effects of a decline in the
economy or markets served by the Company; and other risks detailed
in the Company’s filings with the Securities and Exchange
Commission. The words “believe,” “demonstrate,” “intend,” “expect,”
“estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” 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. For additional disclosure
regarding these and other risks faced by iCAD, please see the
disclosure contained in our public filings with the Securities and
Exchange Commission, available on the Investors section of our
website at http://www.icadmed.com and on the SEC’s website at
http://www.sec.gov.
CONTACTS
iCAD Media
Inquiries: pr@icadmed.com
iCAD Investor Inquiries:
ir@icadmed.com
US Radiology
Specialists: Chris.Core@usradiology.com
Windsong
Radiology: mvasko@windsongwny.com
[i] Conant, E. et al. (2019). Improving
Accuracy and Efficiency with Concurrent Use of Artificial
Intelligence for Digital Breast Tomosynthesis. Radiology:
Artificial Intelligence.[ii] ProFound Risk is CE Marked,
Health Canada Licensed. May not be available in all
geographies.[iii] Mikael Eriksson et al. A risk model for
digital breast tomosynthesis to predict breast cancer and guide
clinical care. Sci. Transl. Med. 14, eabn3971 (2022). DOI:
10.1126/scitranslmed.abn3971[iv] Eriksson M, Czene K, Strand
F, Zackrisson S, Lindholm P, Lång K, Förnvik D, Sartor H, Mavaddat
N, Easton D, Hall P. Identification of Women at High Risk of Breast
Cancer Who Need Supplemental Screening. Radiology. 2020
Nov;297(2):327-333. doi: 10.1148/radiol.2020201620. Epub 2020 Sep
8. PMID: 32897160.
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