iCAD Announces the Appointment of New Members to its Board of Directors

NASHUA, N.H., Jan. 11, 2022 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ:ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, announced today it has appointed Dana Brown and Timothy Norris Irish as new independent members of the Board of Directors, effective January 10, 2022. As previously announced, the Company also added Stacey Stevens, iCAD's President and incoming CEO to the Board of Directors, bringing the total number of Board members to eight.

A 30-year technology industry veteran, Ms. Brown is currently the Senior Vice President, Chief Strategy and Operations Officer at Susan G. Komen^®, the world's leading nonprofit breast cancer organization supporting millions of people in the U.S. and in countries worldwide by advocating for patients, driving research breakthroughs, improving access to high-quality care, offering direct patient support and empowering people with trustworthy information. Prior to that role, she served as Senior Vice President and Chief Digital Officer at United Way Worldwide. Ms. Brown was also a founding team member of multiple successful ventures including co-founder and CMO for MetaSolv Software, CEO of Ipsum Networks and spent the early years of her career at Texas Instruments and Arthur Andersen.

"iCAD's commitment to delivering innovative AI-based breast cancer detection and therapy capabilities that improve the patient experience and clinical decision support for providers is to be commended and I look forward to working with the team, who is equally as passionate about improving women's health and optimizing outcomes for patients," said Ms. Brown. "It is an honor to join iCAD's Board of Directors, and to be a part of this values-led company that is laser focused on innovation and growth."

An experienced leader in the life sciences and healthcare sectors, Professor Timothy Norris Irish is currently a Professor at the Business School at King's College London (KCL). He also is currently a Trustee of Picker Institute Europe and Committee member of the Alzheimer's Society, in addition to several other remunerated Board roles at KHP Medtech Innovations, Team Consulting Ltd., ImaginAb Inc, eZono AG, Feedback Plc and Deltex Medical Group Plc. Prof. Irish also recently served as Vice Chair at the National Institute for Health and Care Excellence (NICE), where he previously held the roles of Acting Chair and Independent Director.

"As a global company with a well-established portfolio of products currently available across the U.S. and more than 15 countries outside the U.S., iCAD's technology is already making a positive impact on the lives of many patients worldwide," said Prof. Irish. "I am honored to join iCAD's Board of Directors and look forward to working with the team to help drive the adoption of the Company's leading-edge technologies that are addressing some of the most urgent and complex challenges in healthcare today."

"We are pleased to welcome Ms. Brown and Prof. Irish to the Board as they each offer tremendous insight and decades of relevant experience in corporate leadership, brand stewardship, and health technologies, along with a proven track record of leading innovation and strategic change," said Ms. Stevens. "With Ms. Brown's experience in technology and women's breast health, and Prof. Irish's global expertise, these appointments will offer our Company unique and fresh perspectives in areas that stand to benefit both the Detection and Therapy sides of our business, while also underscoring the Company's commitment to increasing shareholder value."

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 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 expected benefits of the Company's new directors. 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 prior 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 positive results from this or any future studies, business and strategic objectives, the ability of IORT to provide flexibility, mobility or other advantages, to be more beneficial for patients than traditional therapy or to be accepted by patients or clinicians, 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.

Media Inquiries:

Jessica Burns, iCAD  

+1-201-423-4492

[email protected]

Investor Relations:

Brian Ritchie, LifeSci Advisors

+1-212-915-2578

[email protected]