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Hologic and iCAD Sign Private Label Distribution Agreement for
Film Based CAD Systems
BEDFORD, Mass., and NASHUA, N.H., Nov. 23 /PRNewswire-FirstCall/ -- Hologic,
Inc. (NASDAQ:HOLX), a leading provider of women's diagnostic imaging systems
and state-of-the-art digital imaging systems, and iCAD, Inc. (NASDAQ: ICAD),
today announced a private label agreement to produce and market film- based
Computer Aided Detection (CAD) systems. Under the agreement, iCAD will
manufacture film-based CAD systems for Hologic targeted to serve lower case-
volume mammography clinics. The companies estimate that these clinics comprise
over half the potential market for breast cancer analog CAD products.
"By combining Hologic's film based analog mammography systems with the iCAD
technology, we believe we can provide even more physicians with advanced
systems in the quest for early breast cancer detection," said Jack Cumming,
Hologic's Chairman and CEO. "Early detection can significantly improve a
woman's chance of surviving breast cancer and we remain passionately committed
to improving women's healthcare by providing a comprehensive portfolio of tools
and innovations to aid in early detection."
"iCAD's innovative designs allows the company to provide computer aided
detection solutions that are increasingly affordable to the large number of
women's health centers and clinics performing less than 20 mammography cases
per day," said W. Scott Parr, President and Chief Executive Officer of iCAD,
Inc. "This agreement reflects our continued efforts to make CAD accessible to
all women concerned with the risk of breast cancer."
About Hologic
Hologic Inc. is a leading developer, manufacturer and supplier of medical
imaging systems dedicated to serving the healthcare needs of women, and a
leading developer of state-of-the-art digital imaging technology for general
radiography and mammography applications. Hologic's core business units are
focused on osteoporosis assessment, mammography and breast biopsy, direct-to-
digital X-ray for general radiography applications and mini C-arm imaging for
orthopedic applications. For more information visit http://www.hologic.com/.
About iCAD, Inc.
iCAD engineers, develops, manufactures and markets computer aided detection
(CAD) products for the early detection of breast cancer and other health-care
related applications. iCAD is the only independent, integrated digitizer
hardware and CAD software company offering computer aided detection solutions.
As such, iCAD is able to reduce costs at each step in the CAD product design,
production and assembly process. The Company believes its vertical integration
of CAD and hardware development results in better integration of software and
film digitizer components, lower production costs and reduced administrative
overhead. These achievements have allowed iCAD to progressively enhance its CAD
product line, while reducing the costs of CAD to many customers and allowing
more women to realize the benefits inherent in the early detection of breast
cancer. More information on iCAD's products can be found at
http://www.icadmed.com/.
Forward Looking Disclaimer
This Press Release contains forward-looking information, including but not
limited to statements involving Hologic's and iCAD's plans, expectations and
intentions concerning their private label distribution agreement and the
performance of the products contemplated by that alliance. Actual results may
be materially different than those anticipated in these forward looking
statements. Factors which could cause material differences to these forward
looking statements include known and unknown risks, including without
limitation, those set forth below. Strategic alliances involve numerous risks,
including difficulties associated with cooperation and conflicts of interest
among the parties. In addition, the technologies and planned business of the
alliance are subject to the significant risks and uncertainties generally
applicable to high technology companies, including the uncertainty of new
product development, including the risk that newly introduced products may
contain undetected errors or defects or otherwise not perform as anticipated,
budget overruns, project delays, the early stage of development of the targeted
markets, uncertainty of market growth, rapid technological change and intense
competition, as well as other risks set forth in the companies' filings with
the Securities and Exchange Commission. Hologic and iCAD caution readers not to
place undue reliance upon any such forward-looking statements, which speak only
as of the date made. Hologic and iCAD expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any such statements
to reflect any change in their expectations or any change in events, conditions
or circumstances on which any such statement is based.
Contact:
Glenn P. Muir Frances Crecco
Executive Vice President & CFO Director, Investor Relations
Hologic, Inc. Hologic, Inc.
(781) 999-7300 (781) 999-7377
For iCAD:
Kevin McGrath
Cameron Associates
212-245-4577
http://www.icadmed.com/
DATASOURCE: iCAD, Inc.
CONTACT: Glenn P. Muir, Executive Vice President and CFO, +1-781-999-
7300; or Frances Crecco, Director, Investor Relations, +1-781-999-7377 both of
Hologic, Inc.; Kevin McGrath of Cameron Associates for iCAD, +1-212-245-4577,
Web site: http://www.icadmed.com/
http://www.hologic.com/