iCAD Appoints Jeffrey Sirek as Senior Vice President and General Manager of Xoft
NASHUA, N.H. – July 20, 2020 – iCAD, Inc. (NASDAQ: ICAD), a global
medical technology leader providing innovative cancer detection and therapy
solutions, today announced Jeffrey Sirek was appointed as Senior Vice President
and General Manager of Xoft.
“We are very pleased to add
Mr. Sirek to our Company. He brings to the team a proven track record of high
sales productivity, brand development, marketing success, and revenue growth,”
said Stacey Stevens, President of iCAD. “As we begin to expand the Xoft System
into emerging applications, such as in the brain, prostate, and rectal cancer
space, with promising early clinical data within these areas stemming from
research across a number of prestigious sites worldwide, we are confident Mr.
Sirek’s strong history of consistent results and experience within the medical
industry will be a valuable contribution to the Company.”
Mr. Sirek has had a
distinguished corporate career as a visionary leader and an expert in sales,
marketing management and commercial operations, including product management, manufacturing,
distribution, and engineering. He has held a range of executive management and
senior-level sales positions at Triple Ring Technologies, Terason Inc., Xoft
Inc., GE Healthcare and Color Kinetics. His areas of expertise include
commercial strategy, business development, and product management. He earned a
BA in Finance from the University of St. Thomas in St. Paul, Minnesota.
“I look forward to returning
to the Xoft team, especially during this particularly exciting time as iCAD
explores new applications for Xoft for the treatment of various types of
tumors,” said Mr. Sirek. “The Xoft System is an innovative radiation oncology
treatment solution that offers significant cost, mobility, and treatment time
advantages to clinicians and patients alike. I look forward to working with the
Company as we continue to drive this leading-edge treatment option forward.”
About iCAD, Inc.
Headquartered
in Nashua, NH, iCAD is a global medical technology
leader providing innovative cancer detection and therapy solutions.
ProFound AI™ is a high-performing workflow solution for 2D and 3D
mammography, or digital breast tomosynthesis (DBT), featuring the latest in
deep-learning artificial intelligence. In 2018, ProFound AI for Digital Breast Tomosynthesis
(DBT) became the first artificial intelligence (AI) software for DBT to be
FDA-cleared; it was also CE marked and Health Canada licensed that same year.
It offers clinically proven time-savings benefits to radiologists, including a
reduction of reading time by 52.7 percent, thereby halving the amount of time
it takes radiologists to read 3D mammography datasets. Additionally, ProFound
AI for DBT improved radiologist sensitivity by 8 percent and reduced
unnecessary patient recall rates by 7.2 percent.8
The Xoft® Axxent® Electronic
Brachytherapy (eBx®) System® is FDA-cleared, CE marked and licensed in a
growing number of countries for the treatment of cancer anywhere in the body.
It uses a proprietary miniaturized x-ray source to deliver a precise,
concentrated dose of radiation directly to the tumor site, while minimizing
risk of damage to healthy tissue in nearby areas of the body.
For more information, visit www.icadmed.com and www.xoftinc.com.
Forward-Looking
Statements
Certain statements contained in this
News Release constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements about the
future prospects for the Company’s technology platforms and products. 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 achieve business and strategic objectives, the ability of
IORT to alleviate the burden to our health system, to be more beneficial for
patients that traditional therapy or to be accepted by patients or
clinicians, the impact of supply and
manufacturing constraints or difficulties, uncertainty of future sales levels,
to defend itself in litigation matters, protection of patents and other
proprietary rights, the impact of supply and manufacturing constraints or
difficulties, 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,” “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,
available on the Investors section of our website at http://www.icadmed.com and
on the SEC’s website at http://www.sec.gov.
Contacts:
Media inquiries:
Jessica Burns, iCAD
+1-201-423-4492
Investor relations:
Jeremy Feffer,
LifeSci Advisors
+1-212-915-2568