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iCAD Expands Global Distribution of the Xoft Electronic Brachytherapy System with Agreements in Asia and Russia

  iCAD Expands Global Distribution of the Xoft Electronic Brachytherapy System
  with Agreements in Asia and Russia

   First Breast Cancer Patient Treated in Taiwan with Xoft’s Intraoperative
                              Radiation Therapy

Business Wire

NASHUA, N.H. -- April 9, 2013

iCAD, Inc. (Nasdaq: ICAD), a leading provider of advanced imaging and
radiation therapy technologies for the detection and treatment of cancer,
today announced that the company has entered into strategic distribution
agreements for its Xoft^® Axxent^® Electronic Brachytherapy System^® ^ with
Chindex Medical Limited, in China, and with Medvio in Russia. The company also
announced that the first breast cancer patient was treated with Intraoperative
Radiation Therapy (IORT) using the Xoft System in Taiwan.

“We are delighted to expand our global reach through these agreements with
Chindex and Medvio as they represent a significant growth opportunity for
Xoft,” stated Ken Ferry, President and CEO of iCAD. “As we continue to expand
our reach into key international markets like Europe and Asia, we are seeing
growing interest in IORT among surgeons and radiation oncologists who want to
offer patients advanced radiation therapy treatment options. We expect
increased international demand will strengthen our global commercial
strategy.”

“We are pleased to welcome iCAD’s Xoft System into the Chindex family of
premium healthcare offerings,” said Elyse Beth Silverberg, Chief Operating
Officer of Chindex Medical Limited. “Breast cancer is predicted to be the most
common cancer in Chinese women over the next 20 years. The availability of the
Xoft System in China, including Hong Kong and Macau, will provide our
customers access to the most advanced cancer treatments, including
Intraoperative Radiation Therapy for early stage breast cancer.”

The Xoft System is a mobile and flexible therapy option that can dramatically
reduce treatment times. When used for IORT, the Xoft System delivers a single,
prescribed, targeted dose of isotope-free radiation directly to the tumor
cavity during surgery, thereby minimizing radiation to healthy tissue and
organs and eliminating the need for a shielded treatment environment.

“The Xoft System is transforming the way radiation oncologists are treating
cancer, significantly reducing treatment time which can lead to improved
compliance. In Russia there is a significant patient population that has
difficulty accessing care. With the Xoft System, physicians will be able to
use advanced technology to treat many more patients with breast, endometrial
and cervical cancer,” said  Lori Woods, Principal,  Medvio. “We’re excited to
bring this breakthrough technology to physicians and patients in this rapidly
growing market.”

About Xoft® Axxent® Electronic Brachytherapy System®
The Xoft System is an isotope-free radiation treatment cleared by the U.S.
Food and Drug Administration and CE marked in the EU for use anywhere in the
body, including for the treatment of early stage breast cancer, endometrial
cancer, cervical cancer and skin cancer. It utilizes a proprietary
miniaturized x-ray as the radiation source that delivers precise treatment
directly to cancerous areas while sparing healthy tissue and organs. A
post-market study is underway to assess the safety and efficacy of IORT with
the Xoft System. Xoft, Inc. is a wholly owned subsidiary of iCAD, Inc. For
more information about Xoft visit www.xoftinc.com.

About Chindex Medical Limited
Chindex Medical Limited (CML) is a prominent supplier of leading edge
healthcare technologies to Greater China. With over 1,500 employees worldwide,
headquarters located in China, and operations in North America, Europe, and
Asia, CML offers a unique full-service distribution platform to manufacturers
of medical devices, including product registration, marketing and sales (both
direct and through a closely-managed network of carefully-selected sub
dealers), warehousing and sales in local currency, clinical support, and
installation and after-sales service provided by factory-trained engineers.
Additionally, CML owns and manufactures several patented technologies,
including proprietary blood banking and transfusion equipment, wound closure
products, and general surgery theater instruments. The R&D and manufacturing
processes utilized in the Chinese factories are at international levels, and
the products are sold in more than 70 countries in Europe and the Americas.
For more information, visit www.chindex.com.

About Medvio
Medvio is a privately held company formed to promote the introduction and
growth of key medical technologies in emerging markets. Combined, the Medvio
team has over 60 years of experience in the medical device industry and has
established an international network to support the successful adoption of
innovative products and therapies. Medvio provides services to register
products, gain regulatory clearances, negotiate customs requirements,
establish reimbursement, train physicians, staff and develop sales
organizations. For more information, call (206) 604-6400 or visit
www.medvio.com.

About iCAD, Inc.
iCAD is a leading provider of 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.

"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
Anne Marie Fields of LHA, 212-838-3777 x6604
afields@lhai.com
or
For iCAD media inquiries
Helen Shik of Schwartz MSL, 781-684-0770
iCAD@schwartzmsl.com
 
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