iCAD's Strategic Partnership with Advanced Rad Solutions Expands Availability of the Xoft System into Dermatology Centers
NASHUA, N.H.--(BUSINESS WIRE)-- iCAD, Inc. (NAS: ICAD) , an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced a strategic partnership with Advanced Rad Solutions (ARS) to place iCAD's Xoft® Axxent® Electronic Brachytherapy Systems® at ARS sites to treat patients diagnosed with non-melanoma skin cancer (NMSC). ARS is a full-service integrator of radiation therapies into treatment centers and physician practices.
As part of the strategic partnership, the XoftSystem will be used at each of ARS' affiliated dermatology sites, beginning with its California sites, allowing patients to undergo electronic brachytherapy treatment in the convenience of a dermatologist's office.
"We are pleased to provide patients with the most advanced treatment options for skin cancer in one integrated setting," said Ken Ferry, iCAD's CEO. "Our strategic partnership with ARS will enable us to treat more patients while expanding the number of systems we have in place, ultimately improving patient outcomes."
"Electronic brachytherapy is an advanced, non-invasive procedure that can now be completed at the dermatologist's office or in virtually any clinical setting under the supervision of a radiation oncologist," said Stephen Doggett, M.D., Radiation Oncologist. "The on-site, real time collaboration of the dermatologist and radiation oncologist both at the time of treatment planning and in the treatment suite means improved outcomes and optimal management of skin reactions. Patients are very pleased with this multidisciplinary approach. By allowing providers and patients expanded access to this proven treatment in their dermatologist's office where they received the diagnosis, there is a higher probability that patients will continue with their course of treatment and ongoing care."
"We believe this strategic partnership will change the way skin cancer patients are treated by bringing the portable electronic brachytherapy technology to the dermatologist's office through collaboration with radiation oncology," said Steven Carrales, ARS President and CEO. "We now can offer patients a non-invasive alternative with compelling clinical outcomes. Additionally, by treating skin cancer patients in-house, we will reduce and potentially eliminate the need for patients to see multiple physicians at various locations, while ensuring that patients complete a full course of radiation."
ARS has affiliated dermatology customers in California, Arizona and Washington, and has plans to expand to other states in the fourth quarter of 2013. Since June 2012, ARS customers have collectively treated more than 700 patients with the Xoft System.
About Non-Melanoma Skin Cancer
NMSC, identified as either basal cell carcinoma or squamous cell carcinoma, is not only the most common type of skin cancer, it is the most common type of cancer in humans. These cancers commonly appear on sun-exposed areas of the body such as the face, ears, neck, lips, and backs of the hands. NMSC affects approximately 2.2 million Americans each year.
About Advanced Rad Solutions
ARS is a full service integrator of radiation oncology services into physician practices. ARS provides dermatologists with a comprehensive solution enabling them to offer non-invasive, electronic brachytherapy skin cancer procedures within their current physical offices. ARS's full service approach results in the seamless procurement and coordination of all necessary equipment, dermatologists, radiation oncology medical professionals and technicians and physicists in the setting of the dermatologist's office. ARS has developed several locations with affiliated dermatology customers across several states in the western U.S.
About Xoft Axxent Electronic Brachytherapy System
The Xoft System is an isotope-free radiation treatment cleared by the U.S. Food and Drug Administration and CE marked in the EU for use anywhere in the body, including for the treatment of early stage breast cancer, endometrial cancer, cervical cancer and skin cancer. It utilizes a proprietary miniaturized x-ray as the radiation source that delivers precise treatment directly to cancerous areas while sparing healthy tissue and organs. Xoft is a wholly owned subsidiary of iCAD, Inc. For more information about Xoft visit www.xoftinc.com.
About iCAD, Inc.
iCAD is a leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of common cancers. iCAD offers a comprehensive range of high-performance, upgradeable CAD solutions for mammography and advanced image analysis and workflow solutions for Magnetic Resonance Imaging, for breast and prostate cancers and Computed Tomography for colorectal cancer. iCAD's Xoft System, offers radiation treatment for early-stage breast cancer that can be administered in the form of intraoperative radiation therapy or accelerated partial breast irradiation. The Xoft System is also cleared for the treatment of non-melanoma skin cancer, cervical cancer and endometrial cancer. For more information, call 877-iCADnow, or visit www.icadmed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
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 which 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 defend itself in litigation matters, the Company's ability to identify a replacement for the Axxent FlexiShield Mini, the risks relating to the Company's acquisition of Xoft including, the expected benefits of the acquisition may not be achieved in a timely manner, or at all; the Xoft business operations may not be successfully integrated with iCAD's and iCAD may be unable to achieve the expected synergies, business and strategic objectives following the transaction, the risks of uncertainty of patent protection; the impact of supply and manufacturing constraints or difficulties; product market acceptance; possible technological obsolescence; increased competition; customer concentration; and other risks detailed in the Company's 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 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 athttp://www.icadmed.comand on the SEC's website athttp://www.sec.gov.
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Kevin Burns, 937-431-7967
For iCAD investor relations
Anne Marie Fields, 212-838-3777 x6604
For iCAD media inquiries
Helen Shik, 781-684-0770
For Advanced Rad Solutions
Alan Hughes, 317-439-2805
For Advanced Rad Solutions media inquiries
Robert Bonds, 956-789-8055
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