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iCAD, Inc. (NASDAQ: ICAD) $79M (MarketCap) Secures Contract with Veterans Administration and Department of Defense Hospitals

|Includes:iCAD, Inc. (ICAD)

iCad, Inc. is an industry-leading provider of advanced image analysis and workflow solutions for the early identification of cancer. It offers a comprehensive range of high-performance, upgradeable Computer-Aided Detection systems and workflow solutions for mammography, Magnetic Resonance Imaging (MRI) and Computed Tomography (CT). The company received FDA approval for its first breast cancer detection product in 2002, and more than 3,500 iCad systems have been placed in healthcare practices worldwide since. iCAD’s solutions aid in the early detection of the most prevalent cancers including breast and prostate, and in the future colon and lung cancer.

The company is currently trading at 1.74, up .09 or 5.45%. Today, iCAD announced that it has signed an agreement with the Defense Supply Center to provide federal healthcare facilities including Veteran’s Administration (NASDAQ:VA) and Department of Defense Hospitals withs its Computer-Aided-Detection (NYSEARCA:CAD) technology for mammography. Over 400 federal medical treatment facilities worldwide will now have access to CAD solutions for their mammography systems following this agreement. This CAD technology uses advanced algorithms to evaluate various aspects of the image data, assisting radiologists in detecting cancer by providing a visual indication of suspicious areas. The American Cancer Society outlines recommendations for the early detection of breast cancer, including recommended yearly mammograms starting at age 40.



"iCAD is pleased to be able to offer advanced computer-aided detection technology, a potentially life-saving tool, to U.S. military veterans," said Ken Ferry, President and CEO of iCAD. "We hope that by adding CAD, the VA and Department of Defense Hospitals will be able to identify breast cancer at an earlier stage among the women who have served or who are currently serving in our armed forces."

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Stocks: ICAD