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Sanford Health Announces Adoption of iCAD’s Xoft Electronic Brachytherapy System for Early-Stage Breast Cancer Treatment

October 3, 2018

NASHUA, N.H. and SIOUX FALLS, S.D., Oct. 03, 2018 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the availability of the company’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® at Sanford USD Medical Center. The new treatment of early-stage breast cancer using intraoperative radiation therapy (IORT) with the leading-edge Xoft System is a first for South Dakota and is offered through the Edith Sanford Breast Center. The medical facility is part of Sanford Health, the largest rural, not-for-profit healthcare system in the nation with 39 hospitals and 225 clinics serving 126 communities across nine states.

“Breast cancer is the most frequently diagnosed cancer in females in South Dakota, impacting an estimated 740 women in our state this year. Our goal at the Edith Sanford Breast Center is to provide our patients with advanced technology and specialized services to address all of their breast health needs,” said Michele Lohr, MD, Radiation Oncologist, at Sanford USD Medical Center. “The Xoft System is a valuable addition to our facility as it offers a precise treatment option for early-stage breast cancer with significant advantages, including shorter treatment times, which may improve quality of life and deliver overall better outcomes.”

The Xoft System uses a miniaturized X-ray source to deliver one precise, concentrated dose of radiation to a tumor site at the time of breast-conserving surgery (lumpectomy). The treatment can be completed in as little as eight minutes, making it possible for appropriately selected patients to replace six to eight weeks of traditional radiation therapy with a single treatment. The Xoft System is cleared by the U.S. Food and Drug Administration (FDA), CE marked, and licensed in a growing number of countries for the treatment of cancer anywhere in the body, including early-stage breast cancer, non-melanoma skin cancer, and gynecological cancers. It has been used to successfully treat more than 15,000 patients worldwide.

“A growing number of centers are recognizing the significant advantages of utilizing IORT with the Xoft System for the treatment of early-stage breast cancer, driving increased global demand for our innovative technology,” said Ken Ferry, CEO of iCAD. “We are proud to partner with Sanford Health to provide patients in the Midwest with a new, life-changing treatment option with proven benefits.”

A recent study established that IORT with the Xoft System is clinically proven to be the preferred method of treatment for early-stage breast cancer as compared to external beam radiation therapy due to significant cost savings, reduced radiation exposure and improved quality of life. The research demonstrated a direct cost savings of $630 million annually for the U.S. healthcare system and $10,500 per breast cancer patient annually over the lifetime of a patient.

The new IORT treatment solution with the Xoft System will be available as part of a comprehensive range of breast care services at the Edith Sanford Breast Center at Sanford USD Medical Center. Please call (855) 353-3484 or visit edith.sanfordhealth.org to learn more.

About iCAD, Inc.

Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions. For more information, visit www.icadmed.com.

About Sanford Health Sanford Health is one of the largest health care systems in the nation, with 44 hospitals and nearly 300 clinics in nine states and four countries. Headquartered in Sioux Falls, South Dakota, and serving the Upper Midwest, with nearly 1,400 physicians, Sanford Health is dedicated to several initiatives, including global children’s clinics, genomic medicine and specialized centers researching cures for type 1 diabetes, breast cancer and other diseases. Sanford Health has 28,000 employees, making it the largest employer in the Dakotas. Nearly $1 billion in gifts from philanthropist Denny Sanford over the past decade have transformed how Sanford Health can improve the human condition. For information, visit www.sanfordhealth.org.

“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, to achieve business and strategic objectives, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “would”, “could”, “consider”, “project”, “estimate”, “will”, “continue”, “anticipate”, “likely”, “seek”, 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, including the 10-K for the year ended December 31, 2017, 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:

Media Inquiries:ARPR, on behalf of iCAD, Inc.Paul Barren, (855) 300-8209 paul@arpr.com

Sanford Health:Shawn Neisteadt, (605) 366-2432 shawn.neisteadt@sanfordhealth.org

Investor Relations:LifeSci Advisors, on behalf of iCAD, Inc.Jeremy Feffer, (212) 915-2568 jeremy@lifesciadvisors.com

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