News | June 22, 2008

iCAD To Acquire Assets of CAD Sciences

June 23, 2008 - iCAD Inc. said today it has signed a definitive agreement to purchase the principal assets of CAD Sciences, a privately held medical technology company based in White Plains, NY.

Under the terms of the agreement, iCAD will pay $2 million in cash and $3 million in shares of iCAD common stock.

CAD Sciences develops and distributes pharmaco-kinetic based CAD products that aid in the interpretation of contrast enhanced Magnetic Resonance Imaging (MRI) images of the breast and prostate. Products are also under development by CAD Sciences for therapy monitoring, for the identification of vascular diseases using contrast enhanced Magnetic Resonance Angiography (MRA), and for cancer detection using contrast enhanced Computed Tomography (CT).

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