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iCAD Completes Acquisition of CAD Sciences
Date:7/21/2008

NASHUA, N.H., July 21 /PRNewswire-FirstCall/ -- iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of Computer-Aided Detection (CAD) solutions, today announced the completion of its previously announced agreement to purchase the principal assets of CAD Sciences, a privately-held medical technology company based in White Plains, NY. The purchase price was $5 million, comprised of $2 million in cash and 1,086,957 shares of iCAD common stock. The number of shares issued was calculated using the average closing price for the 10 consecutive trading days immediately preceding the closing.

"iCAD's acquisition of CAD Sciences broadens our leadership position beyond mammography CAD and provides a comprehensive portfolio of advanced image analysis and workflow solutions for the early detection of the most prevalent cancers. Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) are demonstrating significant advances in the imaging sector and this acquisition now extends our reach in the imaging modalities of CT and MRI, in addition to our expertise in film-based, digital radiography and computed radiography," commented Ken Ferry, President and CEO of iCAD.

"Our integration of this leading CAD technology for breast and prostate MRI should provide significant synergy regarding customer call points for our sales team, and we expect physician adoption to be accelerated by iCAD's strong market position in mammography CAD," he added.

About iCAD, Inc.

iCAD, Inc. is an industry-leading provider of Computer-Aided Detection (CAD) solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing cancer earlier. iCAD offers a comprehensive range of high-performance, upgradeable CAD systems for the high, mid and low volume mammography markets. iCAD is entrusted with the task of early cancer detection by more than 2,200 women's healthcare centers worldwide. For more information, call +1 877 iCAD
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SOURCE iCAD, Inc.
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