iCAD Promotes CFO Kevin Burns to Chief Operating Officer

  iCAD Promotes CFO Kevin Burns to Chief Operating Officer

  Burns to lead all operational functions in cancer detection and radiation
                              therapy businesses

Business Wire

NASHUA, N.H. -- November 25, 2013

iCAD, Inc. (Nasdaq:ICAD), industry-leading provider of advanced image
analysis, workflow solutions and radiation therapy for the early
identification and treatment of cancer, today announced that Chief Financial
Officer (CFO), Kevin Burns, has been named iCAD’s Chief Operating Officer
(COO). In this newly-created position, Burns will lead and manage all
operational functions within the Company in addition to continuing his role as
CFO.

“Kevin has made many significant contributions to iCAD and I am confident he
will continue to guide the Company in meeting its short and long term growth
and business goals. During his tenure as CFO, the Company’s financial
performance has improved through increasing efficiencies and maximizing
investments, while reducing operating expenses,” said Ken Ferry, President and
CEO of iCAD. “Kevin has played a critical role in developing our strategic
partnerships, which have resulted in a stronger overall growth trajectory in
our cancer detection and Xoft therapy businesses. We expect his expanded
executive role will enhance our continued success.”

“I’m looking forward to taking on these additional responsibilities at iCAD
and continuing to work closely with our executive team, as we advance the
Company to its next level of growth,” said Kevin Burns, COO and CFO of iCAD.
“This is an exciting time for our Company, as we successfully broaden our
product offerings, build our customer base and expand our reach through
technology innovation and strategic partnerships.”

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 gynecological cancers. 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”, “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 inquiries
LHA
Anne Marie Fields, 212-838-3777
afields@lhai.com
or
For iCAD media inquiries
Schwartz MSL
Rachel Gross, 781-684-0770
icad@schwartzmsl.com
 
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