iCAD to Join the Russell Microcap® Index
NASHUA, N.H. -- June 21, 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 will join the Russell Microcap^® Index when
Russell Investments reconstitutes its comprehensive set of U.S. and global
equity indexes on June 28, 2013, according to a preliminary list of additions
posted June 14, 2013 on www.russell.com/indexes.
Membership in the Russell Microcap Index, which remains in place for one year,
means automatic inclusion in the appropriate growth and value style indexes.
Russell determines membership for its equity indexes primarily by objective,
market-capitalization rankings and style attributes.
“We are pleased to be included in the Russell Microcap Index as it should
broaden our investor base and enhance shareholder awareness of iCAD,” said Ken
Ferry, President and Chief Executive Officer of iCAD. “We believe the addition
to this index reflects the growing market adoption of our cancer therapy
platform, the Xoft^® Axxent^® Electronic Brachytherapy System^®, for the
intraoperative radiation treatment of early-stage breast cancer, skin cancer
and gynecological cancers.”
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Russell calculates more than 700,000 benchmarks daily
covering approximately 98 percent of the investable market globally, 80
countries and more than 10,000 securities.Approximately $4.1 trillion in
assets are benchmarked to the Russell Indexes.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market capitalization to
create the Russell 3000^® Index and Russell Microcap Index. These investment
tools originated from Russell's multi-manager investment business in the early
1980s when the company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell Microcap and other Russell Indexes is
Russell Investments (Russell) is a global asset manager and one of only a few
firms that offers actively managed multi-asset portfolios and services that
include advice, investments and implementation. Russell stands with
institutional investors, financial advisors and individuals working with their
advisors—using the firm’s core capabilities that extend across capital market
insights, manager research, portfolio construction, portfolio implementation
and indexes to help each achieve their desired investment outcomes.
Russell has more than $173 billion in assets under management (as of
3/31/2013) and works with over 2,500 institutional clients, independent
distribution partners and individual investors globally. As a consultant to
some of the largest pools of capital in the world, Russell has $2.6 trillion
in assets under advisement (as of 12/31/2012). It has four decades of
experience researching and selecting investment managers and meets annually
with more than 2,200 managers around the world. Russell traded more than $1.4
trillion in 2012 through its implementation services business.
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,
endometrial and cervical cancers. For more information, call 877-iCADnow, or
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
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.
Kevin Burns, 937-431-7967
For iCAD investor relations
Anne Marie Fields, 212-838-3777 x6604
For iCAD media inquiries
Helen Shik, 781-684-0770
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