Solis Mammography Adopts iCAD’s ProFound AI Platform Powered by Panorama with Short-Term Breast Cancer Risk Assessment Solution
Agreement Positions Both Companies
for Growth; Leading-edge AI Technology to be Installed Across Largest
Independent Provider of Mammography and Breast Health Services’ Network
NASHUA, NH and DALLAS, TX – December 10, 2020
– iCAD,
Inc. (NASDAQ: ICAD),
a global medical technology leader providing innovative cancer detection and
therapy solutions, and SolisMammography, the
largest independent provider of mammography and breast health services in the
United States, today announced a five-year partnership whereby iCAD will
provide Solis Mammography’s nationwide network with its latest artificial
intelligence (AI) breast health solutions, including ProFound AI® for DBT and
ProFound AI Risk, the first and only clinical
decision support tool to provide an accurate two-year breast cancer risk
estimation based on a screening mammogram.
“After a thorough
evaluation of all available AI solutions, we have chosen iCAD’s ProFound AI platform
as our sole breast health AI solution to integrate with our Hologic 3D
mammography systems throughout our entire network,” said Grant Davies, President
and Chief Executive Officer of Solis Mammography. “ProFound AI will further enhance
patient care and outcomes for the over one million women we serve while also
supporting our continued growth and expansion.”
ProFound
AI for DBT is a high-performing workflow solution
trained with the latest in deep-learning AI capabilities. It assists
radiologists by rapidly
and accurately analyzing each individual DBT image to identify potentially
malignant lesions. The ProFound AI platform powered by Panorama is compatible with all leading mammography systems and
allows for seamless integration with major PACS for decision support
capabilities across large networks.
“Our
partnership with Solis underscores our ongoing commitment to improving women’s
health and we are thrilled that even more women across the United States will
benefit from our revolutionary technology that is helping to improve lives,” said
Michael Klein, Chairman and CEO of iCAD. “ProFound AI powered by Panorama offers unparalleled benefits
to patients and radiologists alike, including a clinically proven improvement
in sensitivity and specificity, which dramatically improves reading accuracy
for mammograms and reduces the rate of false positives. Likewise, with the
addition of our recently introduced ProFound AI Risk offering, we believe we
will move mammography from what is today an age-based screening paradigm to a
risk-adjusted precision screening paradigm that is personalized for every
woman.”
In September 2020, compelling
research published in the peer-reviewed journal, Radiology concluded that the ProFound AI
Risk model is effective in
identifying women at a high likelihood of being diagnosed with breast cancer
within two years of a negative screening mammogram and in possible need of
supplemental screening.
“We’ve
reinvented the mammography experience with a compassionate,
patient-focused approach,” said Alexander Sardiña, MD, Chief Medical Officer at
Solis Mammography. “We ensure that all of our facilities are equipped with the latest,
state-of-the-art screening and diagnostic technologies designed to improve the
patient experience and offer women peace of mind. The recent adoption of
ProFound AI for DBT throughout our network will allow our radiologists to
quickly and accurately evaluate their patients’ 3D mammography images and aid
in the identification of suspicious lesions earlier. In addition, the ability
to provide a short-term, two-year breast cancer risk assessment will
significantly enhance clinical decision making and further complement the armamentarium
of breast cancer diagnostic and therapeutic tools available at Solis
Mammography.”
ProFound AI for DBT is
proven to curtail workflow challenges substantially by reducing radiologists’
reading time by 52.7%, thereby reducing by half the amount of
time it takes radiologists to read 3D mammography datasets. Additionally, the
platform improved radiologists’ performance measured by Area Under the Curve
(AUC) by nearly 6% and reduced unnecessary patient recall rates by more than
7%.[i]
About Solis Mammography
Solis Mammography
is the nation’s largest independent provider of breast screening and diagnostic
services. It operates more than 80 Solis-branded centers in 11 states, as well
as seven offices in the Washington, DC metro area through its affiliate brand,
Washington Radiology. Solis has been dedicated to helping women achieve and
maintain breast health and peace of mind for more than 30 years and more than
five million procedures. As a pioneer and innovator in 3D mammography, Solis
has stayed at the forefront of breast health by continuing to deliver a better
experience and a more accurate mammogram to the generations of women we serve.
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 (AI). In 2018, ProFound AI for DBT
became the first AI software for DBT to be FDA-cleared; it was also CE marked
and Health Canada licensed that same year. It provides crucial information,
such as Certainty of Finding lesion and Case Scores, which assists in clinical
decision-making and improving reading efficiency. ProFound AI Risk is currently
available on an introductory basis for 2D mammography and will subsequently be
available for the rapidly growing 3D mammography market. For more information, visit www.icadmed.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 benefits of the Company’s agreement with Solis and 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 willingness of patients to undergo mammography screening in
light of risks of potential exposure to Covid-19, whether mammography screening
will be treated as an essential procedure, whether ProFound AI will improve
reading efficiency, improve
specificity and sensitivity, reduce false
positives and otherwise prove to be more beneficial for patients and
clinicians, the impact of supply and
manufacturing constraints or difficulties on our ability to fulfill our orders,
uncertainty of future sales levels, to defend itself in litigation matters,
protection of patents and other proprietary rights, product market acceptance, possible
technological obsolescence of products, increased competition, 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:
Amy Cook, iCAD
+1-925-200-2125
Investor relations:
Jeremy Feffer, LifeSci Advisors
+1-212-915-2568
[i]
Conant, E et al. (2019). Improving Accuracy and Efficiency with Concurrent Use
of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology:
Artificial Intelligence. 1 (4). Accessed via
https://pubs.rsna.org/doi/10.1148/ryai.2019180096