NASHUA, N.H., March 14, 2022 (GLOBE NEWSWIRE) — iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it will be showcasing its portfolio of Breast AI solutions, including ProFound AI® for Digital Breast Tomosynthesis (DBT) in the iCAD booth (#4000) at the 2022 Healthcare Information and Management Systems Society (HIMSS) Global Health Conference & Exhibition in Orlando, FL, taking place March 14-18, 2022.
“One of the most exciting developments in medicine is the use of artificial intelligence (AI) to detect, diagnose and improve efficacy of treatment,” said Stacey Stevens, President and CEO of iCAD, Inc. “As the global leader in breast imaging AI, iCAD is playing an integral role. Our award-winning suite of Breast AI solutions for cancer detection, density assessment and risk evaluation help to significantly improve reading workflow while optimizing interoperability requirements with multi-vendor integrations. With our deep learning algorithms deployable on VMware vSphere and NVIDIA AI Enterprise, hospitals and centers can more effectively manage and scale our leading-edge breast health solutions.”
Experts from iCAD and NVIDIA will discuss how iCAD’s flexible deployment options empower health systems to maximize their investment with the NVIDIA AI Enterprise software suite, combined with NVIDIA accelerated computing and VMware’s virtual environment, during a Solution Showcase presentation on March 15th at 11am EDT in the VMware HIMSS booth theater (booth #2121). Best practices for integrating AI into the IT environment, along with VMware and NVIDIA technology, will be discussed by the following experts:
- Laurence Yudkovitch, Technical Product Manager, AI at iCAD, Inc.
- Josh Dagenhart, AI Solutions Architect Manager at iCAD, Inc.
- Brad Genereaux, Medical Imaging Alliance Manager at NVIDIA
- Bill Russell, CEO and Founder of Health Lyrics, Founder and Host of This Week in Health IT
“Integrating AI solutions into existing infrastructure is complex – it is estimated that over 50% of AI initiatives in hospitals don’t make it into production,” said Brad Genereaux, Medical Imaging Alliance Manager at NVIDIA. “Paired with iCAD’s solutions, NVIDIA AI Enterprise streamlines the integration of AI into existing infrastructure, enabling IT administrators to manage all applications in one central setting to maximize facilities’ investments and make the adoption of new diagnostics, treatments and technologies more affordable and accessible in the fight against cancer.”
“At iCAD, we know what it takes to create a winning AI solution that not only improves patient outcomes, but also optimizes technology deployments and total cost of ownership. Our AI clinical products enhance IT infrastructures and are helping to transform breast cancer screening and detection by improving the patient and the radiologist experience,” said Stevens. “In addition, ProFound AI is unrivaled in improving reading accuracy and decreasing reading time while helping radiologists detect cancers earlier, with about 2X the improvementi in clinical performance compared to leading competitors.”
iCAD’s Breast AI Solution suite includes ProFound AI for cancer detection, which is available for 2D and 3D mammography, PowerLook® Breast Density Assessment, which aids in accurate and consistent density-based stratification and reporting, and ProFound AI® Risk, the world’s first and only clinical decision support tool that provides an accurate short-term, breast cancer risk estimation that is truly personalized for each woman based only on a screening mammogram.
The first AI cancer detection software for DBT to be cleared by the FDA for superior performance, ProFound AI can reduce radiologists’ reading time by an average of 52.7 percentii; for cases with dense breasts, it can reduce reading time by an average of 57.4 percent.iii It is also clinically proven to improve radiologists’ sensitivity by 8 percent and reduce unnecessary patient recall rates by 7.2 percent on average.ii
PowerLook Density Assessment software enables clinicians to automate breast density assessment accurately and reliably, removing the challenges of subjectivity. Built with the latest in deep-learning and compatible with 2D and 3D mammography imaging systems from multiple vendors, this advanced solution identifies the patient’s anatomy, segments the breast, then measures adipose and fibroglandular tissue and its dispersion to determine the density category in alignment with BI-RADS® 5th Edition lexicon.
ProFound AI Risk offers the ability to calculate individualized short-term risk estimation using either 2D and 3D mammography, with greater accuracy compared to traditionally used risk models.iv,v The latest version of the software was specifically designed to factor in racial and ethnic backgrounds, as well as clinically relevant global screening guidelines and more than 15 country incidence and mortality reference tables, for alignment with that country’s general population.
About iCAD, Inc.
Headquartered in Nashua, NH, iCAD® is a global medical technology leader providing innovative cancer detection and therapy solutions. For more information, visit www.icadmed.com and www.xoftinc.com.
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 expected benefits of ProFound AI®, the benefits of the Company’s products, external factors affecting the market for our products, behavior of clients and prospective clients, 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 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 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.
Jessica Burns, iCAD
iCAD Investor Relations
i https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/pmn.cfm. Accessed 1-19-22. FDA 510K submissions K182373, K201019, K193229.
ii Conant, E et al. (2019). Improving Accuracy and Efficiency with Concurrent Use of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology: Artificial Intelligence. 1 (4). Accessed via https://pubs.rsna.org/doi/10.1148/ryai.2019180096.
iii Hoffmeister, J. (2018). Artificial Intelligence for Digital Breast Tomosynthesis – Reader Study Results. [White paper]. Accessed via https://www.icadmed.com/assets/dmm253-reader-studies-results-rev-a.pdf
iv Eriksson M, Czene K, Strand F et al. Identification of Women at High Risk of Breast Cancer Who Need Supplemental Screening. Radiology. 2020 Sept 8.
v iCAD data on file.