iCAD’s ProFound AI Joins Nuance AI Marketplace for Diagnostic Imaging
NASHUA, N.H., Dec. 04, 2019 (GLOBE NEWSWIRE) — iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that its Breast Health Solutions suite will be available on the Nuance® AI Marketplace. The Nuance AI Marketplace functions like an app store dedicated to radiology; it is the first and largest portal with one-stop access to a wide range of AI diagnostic models from within the industry’s most widely used radiology reporting platform. This distribution agreement will provide iCAD consolidated, at-scale access to users of Nuance PowerScribe™, the radiology reporting system trusted by approximately 80 percent of U.S. radiologists across more than 6,500 connected healthcare facilities.
iCAD’s Breast Health Solutions suite includes ProFound AI™ for Digital Breast Tomosynthesis (DBT), the first artificial intelligence (AI) software for DBT to be FDA-cleared, as well as software solutions for cancer detection in 2D mammography and automated breast density assessment.“Both ProFound AI and the Nuance AI Marketplace address a critical need in the field of radiology as technology continues to evolve and health care professionals now have access to more data than ever,” said Michael Klein, Chairman and CEO of iCAD. “ProFound AI is a powerful tool and the only software of its kind that is clinically proven to optimize workflow and operational efficiencies for radiologists. Following its landmark FDA-clearance in 2018, adoption of ProFound AI has steadily grown in leading healthcare facilities worldwide, as more clinicians learn of the benefits it offers. And with 8 in 10 of radiologists in the U.S. already using Nuance’s PowerScribe, this will expand the possibilities for our leading-edge technology to be accessible to even more clinicians.”ProFound AI for DBT was FDA-cleared, CE marked, and Health Canada licensed in 2018. Trained with one of the largest available DBT datasets, the software rapidly and accurately analyzes each DBT image, or slice, and provides radiologists with key information, such as Certainty of Finding lesion and Case Scores, which assists in clinical decision-making and improving reading efficiency. Featuring the latest in deep-learning artificial intelligence, the algorithm allows for continuously improved performance via ongoing updates.Clinical data from a large reader study involving ProFound AI for DBT were recently published in Radiology: Artificial Intelligence. According to study findings, ProFound AI for DBT improved radiologist sensitivity by 8 percent, reduced unnecessary patient recall rates by 7.2 percent, and slashed reading time for radiologists by 52.7 percent.1 Additionally, ProFound AI cut reading time by up to 57.4 percent for radiologists reading cases of women with dense breasts.2 With Nuance PowerScribe, radiologists can discover, test, and use algorithms from within their familiar PowerScribe workflows to increase reporting efficiency and quality and to help care teams improve patient outcomes and healthcare costs. A built-in feedback channel lets users share real-world results with developers for algorithm refinement and post-market surveillance. Hospital systems benefit with simplified purchasing and metrics showing algorithm usage, costs, and performance.“This feedback channel will provide iCAD with valuable insight into real-world data and allow us to further accelerate and amplify the development of additional AI algorithmic capabilities within breast cancer AI,” said Stacey Stevens, President of iCAD. “This continuous data analysis provides crucial information that can advance clinical and workflow efficiency and enhance patient care, improving outcomes in the years ahead.”References: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.2019180096Hoffmeister, 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.pdfAbout 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.“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, to achieve business and strategic objectives, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, protection of patents and other proprietary rights, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or 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.Contacts:
Jessica Burns, iCAD
LifeSci Advisors, on behalf of iCAD, Inc.
Jeremy Feffer, +1-212-915-2568
firstname.lastname@example.orgNuance, PowerScribe and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.