iCad Inc. Archives - Medical Design Sourcing

iCad AI tech accurately predicts breast cancer risk, provides heart disease insights

iCad (Nasdaq:ICAD) today announced plans to present new studies validating its AI-powered ProFound Breast Health Suite.

ProFound helps to uncover hidden heart or vascular disease and predict a woman’s risk for developing breast cancer in the next 1-2 years. The platform can screen a single mammogram for two of the top causes of death for women. iCad designed it to improve accuracy, streamline clinical workflow and deliver results more quickly.

The company plans to present its findings at RSNA23.

“The ProFound Breast Health Suite significantly increases cancer detection rates with up to 2x enhanced clinical performance compared to other AI platforms, and reduces the rate of false positive results while accurately evaluating a woman’s breast density and cancer risk,” said Dana Brown, president and CEO of iCad, Inc. “Our growing body of important research illustrates the potential our newest solution, ProFound Heart Health, holds for the assessment of…

iCad to integrate Google AI into mammography workflow

iCad (Nasdaq:ICAD) announced today that it amended its development and commercialization agreement with Google Health.

The amendment enables iCad to integrate Google’s AI technology with its ProFound Breast Health Suite for 2D mammography. It intends to integrate the AI capabilities upon regulatory approval as an independent reader for breast cancer screening.

ProFound Detection, a high-performance deep learning cancer detection solution, improves detection and workflow efficiency in mammography. It has availability for both 2D and 3D mammography to rapidly and accurately analyze each image. The suite then alerts radiologists of suspicious areas that may warrant a closer look.

“By leveraging the remarkable capabilities of ProFound Detection, iCAD seeks to provide a viable alternative to the current double-reading workflow,” said Dana Brown, president and CEO of iCAD. “Combining Google’s [AI] technology with our leading-edge ProFound Breast He…

iCad lays off 28% of its workforce in restructuring plan

iCad (Nasdaq:ICAD) announced that it enacted a restructuring plan that includes a workforce reduction of approximately 28%.

The Nashua, New Hampshire-based cancer detection and therapy solution developer said that equates to approximately 23 employees. It attributed the restructuring plan to ongoing industry and macroeconomic pressures. iCad’s restructuring aims to support long-term strategic goals and reduce operating expenses.

The company believes this aligns its cost structure to focus on areas that are more likely to generate the best long-term results. It officially committed to this restructuring on March 20.

iCad is the latest medtech company to slash its headcount as macroeconomic pressures continue to mount. In fact, MassDevice has reported on more than 19,000 medtech workers let go across the industry since mid-2022. (Here’s a list of the layoffs that have affected the industry. Have a tip about layoffs at your company or within the…

iCad CEO Stacey Stevens resigns for personal reasons, Dana Brown named as replacement

iCad (Nasdaq:ICAD) announced today that it accepted the resignation — for personal reasons — of Stacey Stevens as president and CEO.

Stevens, who took over the corner office in March 2022, plans to remain with the company through April 30, 2023. She intends to ensure a smooth transition to new president and CEO, Dana Brown. The iCad board named Brown to the position, effective immediately, while she also remains board chair.

Nashua, New Hampshire-based iCad, which develops cancer detection and therapy solutions, said in a news release that its board “congratulates Ms. Stevens on her outstanding leadership.” The board thanked Stevens for more than 16 years of service to iCad. She originally joined iCad as SVP for marketing and strategy in 2006.

About Dana Brown

Brown became the chair of iCad’s board in January of this year. She brings 30 years of experience across the technology industry. Most recently, she was a strategic advisor at Sus…

iCad announces CFO transition

iCad (Nasdaq:ICAD) announced today that its board of directors approved the appointment of Daniel Shea as interim CFO.

Shea takes over as interim CFO, effective immediately. The cancer detection and therapy tech company also launched a search for a full-time CFO. Steve Sarno previously held the interim CFO role.

The company said in a news release that it aims to complete the search process in approximately 90 days. In addition to appointing Shea, iCad appointed Bill Keyes as its SVP, U.S. commercial sales, AI.

“We are pleased to welcome Mr. Shea and Mr. Keyes to the iCAD senior leadership team,” said iCad President and CEO Stacey Stevens. “They each offer remarkable experiences and talents that are uniquely positioned to benefit the company during what is currently an exciting time of transformation as we shift to a more sustainable partnership-based and recurring revenue model for our AI business.

“Both Mr. Shea and Mr. Keyes of…

iCad, Solis Mammography partner on AI for cardiovascular disease

iCad (Nasdaq:ICAD) announced today that it entered into a collaboration with Solis Mammography to define cardiovascular risk.

The development and commercial collaboration revolves around producing an artificial intelligence (AI) solution. This solution potentially quantifies the presence of breast arterial calcifications in a mammogram to assess the risk of cardiovascular disease (CVD). It uses data obtained from mammograms.

Nashua, New Hampshire-based iCad said this application could identify millions of women at risk for heart disease. It builds upon iCad’s flagship AI for breast imaging, ProFound AI. It both detects and quantifies calcifications within the arteries of the breast.

“With heart disease being the number one killer among women in the U.S., this collaboration marks the initiation of a historical milestone for iCad that will not only offer the potential to address a significant unmet need in patient care but also to penetrate a sizeabl…

iCad names Stacey Stevens as CEO

iCad (NSDQ:ICAD) today announced that it has appointed Stacey Stevens as president and CEO, effective March 1, 2022.

Stevens has served as the Nashua, N.H.-based company’s president since 2019. She succeeds chairperson and CEO Michael Klein, who will continue to serve as chairperson of iCad’s board of directors.

“On behalf of the entire board of directors, I would like to congratulate Ms. Stevens on this appointment. It has been a privilege to work closely with her for the past three years, as she brings a relentless focus on leading change and a proven track record of driving growth and innovation. I look forward to continued interaction in her new capacity as CEO,” Klein said in a news release. “We are currently at an important inflection point, with the recent launch of several first-in-kind technologies and the Company’s increasing focus on enterprise sales on the Detection side of the business, and with the expansion of Xoft in emer…

Latest iCad 3D mammography AI gains CE mark

iCad’s latest AI for digital breast tomosynthesis provides a case score for each detection. (Image courtesy of iCad)

iCad (NSDQ:ICAD) today announced that the third version of its ProFound AI for digital breast tomosynthesis (DBT) has won CE mark approval.

Compared with previous software versions, the latest generation of ProFound AI offers up to a 10% improvement in specificity performance while maintaining a high sensitivity level, and approximately 40% faster processing on the new PowerLook platform, according to the Nashua, N.H.–based company.

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