iCAD Receives FDA Approval for Digital CAD with Philips Digital Mammography System

  iCAD Receives FDA Approval for Digital CAD with Philips Digital Mammography
  System

FDA Approval Provides Radiologists with Expanded Access to Next Generation CAD
                                   Platform

Business Wire

NASHUA, N.H. -- January 7, 2013

iCAD, Inc.  (NASDAQ: ICAD),  an industry-leading provider of advanced image
analysis, workflow solutions and radiation therapy for the early
identification and treatment of cancer, today announced approval by the U.S.
Food and Drug Administration (FDA) for use of the company’s next generation
mammography computer-aided detection (CAD) platform, PowerLook Advanced
Mammography Platform (AMP)^TM, with Digital CAD for Philips’ MicroDose
Full-Field Digital Mammography System.

“We are pleased to provide our customers with a comprehensive mammography
solution. This partnership brings together our unique spectral imaging
capability enabled through photon counting technology that lets us deliver the
best IQ with the lowest dose in the industry and iCAD’s industry-leading CAD
solution to deliver workflow efficiencies and enhanced patient care,” said
Kevin Tahmoush, Business Leader for Mammography Solutions of Philips.
“Additionally, the modular design of iCAD’s PowerLook AMP and the
industry-leading CAD product provides our MicroDose customers with unmatched
flexibility to choose the products and functionality they need to work more
efficiently.”

“With this recent FDA approval, we will now be able to offer PowerLook AMP,
our next generation digital mammography CAD platform, with the Philips
MicroDose Full-Field Digital Mammography System,” said Ken Ferry, CEO of iCAD.
“This further broadens our partnerships with leading digital mammography
companies and provides radiologists with an innovative combination of
assessment tools to improve patient care.”

PowerLook AMP provides radiologists with the ability to customize their CAD
solution to meet the needs of their individual work environment. The
technology expands on iCAD’s SecondLook Digital algorithm and is the CAD
platform upon which all future breast imaging CAD offerings from iCAD will be
built. PowerLook AMP’s CAD metrics offer industry-leading tissue and lesion
characteristics to support the breast imager’s workflow.

iCAD’s PowerLook AMP’s flexible DICOM connectivity solution supports direct
integration with Philips’ IntelliSpace Breast workstation as well as enabling
universal compatibility with leading PACS and Review Workstations. Additional
modules are expected to be developed and integrated into PowerLook AMP in the
future.

About iCAD, Inc.

iCAD is an industry-leading provider of Computer-Aided Detection (CAD)
technologies, advanced image analysis, workflow solutions and radiation
therapies for the early identification and treatment of common cancers. iCAD
offers a comprehensive range of high-performance, upgradeable CAD solutions
for mammography and advanced image analysis and workflow solutions for
Magnetic Resonance Imaging, for breast and prostate cancers and Computed
Tomography for colorectal cancer. iCAD’s Xoft System, offers radiation
treatment for early-stage breast cancer that can be administered in the form
of intraoperative radiation therapy or accelerated partial breast irradiation.
The Xoft System is also cleared for the treatment of non-melanoma skin cancer
and endometrial cancer. For more information, call (877) iCADnow, or visit
www.icadmed.com.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a
diversified health and well-being company, focused on improving people’s lives
through timely innovations. As a world leader in healthcare, lifestyle and
lighting, Philips integrates technologies and design into people-centric
solutions, based on fundamental customer insights and the brand promise of
“sense and simplicity.” Headquartered in the Netherlands, Philips employs
approximately 122,000 employees with sales and services in more than 100
countries worldwide. With sales of EUR 22.6 billion in 2011, the company is a
market leader in cardiac care, acute care and home healthcare, energy
efficient lighting solutions and new lighting applications, as well as
lifestyle products for personal well-being and pleasure with strong leadership
positions in male shaving and grooming, portable entertainment and oral
healthcare. News from Philips is located at www.philips.com/newscenter.

"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, the risks relating
to the Company’s acquisition of Xoft including, the expected benefits of the
acquisition may not be achieved in a timely manner, or at all; the Xoft
business operations may not be successfully integrated with iCAD’s and iCAD
may be unable to achieve the expected synergies, business and strategic
objectives following the transaction, the risks of uncertainty of patent
protection; the impact of supply and manufacturing constraints or
difficulties; product market acceptance; possible technological obsolescence;
increased competition; customer concentration; 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”, 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.

Contact:

For iCAD
Kevin Burns, 937-431-7967
kburns@icadmed.com
or
For iCAD investor relations
LHA
Anne Marie Fields, 212-838-3777 x6604
afields@lhai.com
or
For iCAD media inquiries
Schwartz MSL
Helen Shik, 781-684-0770
iCAD@schwartzmsl.com