iCAD becomes strategic partner with i3ARCHIVE's leading product,
The National Digital Mammography Archive(TM) (NDMA)
NASHUA, N.H., Nov. 19 /PRNewswire-FirstCall/ -- iCAD, Inc. (Nasdaq: ICAD),
which designs, develops and markets Computer Aided Detection (CAD) imaging
technology and systems for the early detection of breast cancer, and
i3ARCHIVE, Inc., which specializes in the national and cross-enterprise
distribution and access of health images and data, today announced that iCAD's
CAD Technology will be offered on the National Digital Mammography Archive(TM)
(NDMA).
The NDMA is an archiving solution that allows participating hospitals and
physicians to access the largest national database of digital mammography
images, associated clinical and demographic data, and centralized CAD
algorithms. NDMA participants can store, distribute, analyze and access any
DICOM breast image and its related clinical and demographic data without the
need for any capital investment.
"iCAD is proud to be involved with this revolutionary alternative for
hospitals and imaging centers that are challenged with the size of digital
mammography images and how to store them," commented W. Scott Parr, President
and Chief Executive Officer of iCAD, Inc. "Our ability to digitally scan
images in a central location, using our CAD technology, eliminates the
financial burden associated with storage and capital equipment for certain
customers. This represents another significant step towards making earlier
detection of breast cancer affordable and accessible to all women at risk."
In addition to its partnership with iCAD, i3ARCHIVE has already made
significant strides in the commercialization of the NDMA. The company is
currently storing more than 20,000 images on the NDMA and has developed
strategic business partnerships with Siemens Medical Solutions and other
industry leaders.
i3ARCHIVE will be involved in educating iCAD's customers and prospects
about the NDMA at the Radiological Society of North America (RSNA) Annual
Meeting, which opens in Chicago on November 30, 2003.
"We are very pleased that i3ARCHIVE and iCAD have joined together to offer
computer aided detection services through the NDMA," stated Bob Cox, Chief
Executive Officer of i3ARCHIVE, Inc. "We believe this approach will
significantly alter practices in the field of clinical mammography. Our
company delivers the structure and expertise necessary to allow hospitals and
physicians -- and most importantly, their patients across the country -- to
take full advantage of this technology."
"The NDMA is designed to facilitate data analysis tools, including
Computer Aided Detection," added Parr. "This means that wherever a patient
goes, her physician can access previous mammogram images and CAD findings,
while taking advantage of the collective medical knowledge available through
the NDMA. We believe this technology will improve the delivery of care,
training and research at women's health centers. It is because of this
commitment to women's health and the value it brings to radiologists that we
chose to join i3ARCHIVE as its CAD partner."
About iCAD, Inc.
Early detection of breast cancer saves lives. Computer-aided detection
from iCAD, Inc. can detect 23% of breast cancers an average of 14 months
earlier than screening mammography alone. iCAD offers the fastest CAD system
available, the only system to look for breast asymmetries as potential
indicators of breast cancer, and the most effective system available to detect
breast masses.
iCAD offers the only CAD system designed on a relational database
platform, which can improve productivity and reduce operating and capital
costs at women's health centers by offering computer aided detection as an
integrated or integration-ready part of current or anticipated informatics
systems, digital imaging resources, and workflows. In January 2002, the
Company received approval from the U.S. Food and Drug Administration (FDA) to
market its computer aided detection systems in the United States.
iCAD, the only vertically integrated company in its market, also
manufactures medical film digitizers for a variety of medical imaging and
other applications. The Company is headquartered in Nashua, New Hampshire and
its common stock is listed on The Nasdaq Stock Market under the symbol "ICAD".
More information on iCAD's products can be found at http://www.icadmed.com.
About i3ARCHIVE, Inc.
Headquartered in Philadelphia, PA, i3ARCHIVE, Inc., is a privately held
company that specializes in the national and cross-enterprise distribution and
access of health images and data. i3ARCHIVE was founded in 2003 to market the
industry-altering NDMA, which provides a complete medical image and
information management system offering immediate on-line storage of
enterprise-wide and nationwide diagnostic mammography images and relevant
information. Recognized as the leading project of its kind, the NDMA was
ranked by InfoWorld magazine as the #1 innovative technology project in 2002
designed to streamline business processes. More information can be obtained
by visiting http://www.i3Archive.com or by calling (888)-636-NDMA (6362).
Certain statements contained in this News Release constitute "forward-
looking" statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from such forward-looking statements. Such risks
include, but are not limited to, uncertainties associated with litigation
and/or government regulation, changes in Medicare reimbursement policies,
competitive factors, and other risks that are detailed in the Company's
periodic filings with the Securities and Exchange Commission. The words
"believe," "demonstrate," "intend," "expect," "estimate," "anticipate,"
"likely" and similar expressions identify forward-looking statements. Readers
are cautioned to avoid placing undue reliance on such forward-looking
statements, which speak only as of the date the statements were made.
For more information on iCAD, Inc., please contact RJ Falkner & Company, Inc.,
Investor Relations Counsel at (800) 377-9893 or via email at
info@rjfalkner.com
For more information on i3ARCHIVE, Inc., please contact Caralyn Gilotti,
Dudnyk Advertising & PR at (267) 532-1308 or via email at cgilotti@dudnyk.com
SOURCE iCAD, Inc.
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Related links:
http://www.icadmed.com
CONTACT:
RJ Falkner & Company, Inc., Investor
Relations Counsel, +1-800-377-9893, info@rjfalkner.com, for iCAD,
Inc.; or Caralyn Gilotti of Dudnyk Advertising & PR,
+1-267-532-1308, cgilotti@dudnyk.com, for i3ARCHIVE, Inc.
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