(By Balaseshan) iCAD Inc. (NASDAQ: ICAD) said it has received approval from the U.S. Food and Drug Administration (FDA) for Digital CAD with Philips Digital Mammography System.
The company announced approval for use of its next generation mammography computer-aided detection (CAD) platform, PowerLook Advanced Mammography Platform (AMP), with Digital CAD for Philips' MicroDose Full-Field Digital Mammography System.
PowerLook AMP provides radiologists with the ability to customize their CAD solution to meet the needs of their individual work environment.
The technology expands on iCAD's SecondLook Digital algorithm and is the CAD platform upon which all future breast imaging CAD offerings from iCAD will be built. PowerLook AMP's CAD metrics offer industry-leading tissue and lesion characteristics to support the breast imager's workflow.
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iCAD's PowerLook AMP's flexible DICOM connectivity solution supports direct integration with Philips' IntelliSpace Breast workstation as well as enabling universal compatibility with leading PACS and Review Workstations. Additional modules are expected to be developed and integrated into PowerLook AMP in the future.
"With this recent FDA approval, we will now be able to offer PowerLook AMP, our next generation digital mammography CAD platform, with the Philips MicroDose Full-Field Digital Mammography System," said Ken Ferry, CEO of iCAD. "This further broadens our partnerships with leading digital mammography companies and provides radiologists with an innovative combination of assessment tools to improve patient care."
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iCAD, which is headquartered in Nashua, New Hampshire, provides image analysis and workflow solutions that enable radiologists and other healthcare professionals to identify pathologies and pinpointing cancer earlier.
ICAD is trading up 1.70% at $4.79 on Monday. The stock has been trading between $1.75 and $5.12 for the past 52 weeks.