MarketWatch  Aug 8  Comment 
Shares of iCAD Inc. were indicated up over 30% in premarket trade Wednesday, after the provider of technology for use in cancer detection announced Food and Drug Administration clearance of its latest artificial intelligence software product. The...
SeekingAlpha  Nov 8  Comment 
JCN Network  Jul 7  Comment 
iCAD SX V7L6 summary Pricing and Availability TOKYO, Jul 7, 2017 - (JCN Newswire) - Fujitsu today announced the launch of iCAD SX V7L6, the latest version of the Fujitsu Manufacturing Industry Solution iCAD SX, its 3D CAD software for...


iCAD (Nasdaq: ICAD) is a provider of computer-aided detection (CAD) solutions that enable healthcare professionals to identify cancer and life-threatening conditions by making medical services more effective, more accessible, and more affordable. iCAD’s solutions aid in the early detection of breast, prostate, and colon cancer. The Company’s CAD systems include algorithms and standard computer and display equipment. iCAD's segments include Digital & MRI CAD (51% of revenue), film (7%), electronic brachytherapy (13%), and Service & Supply (29%).[1]

Business Growth

iCAD's growth is being driven by growth of its Axxent eBx Electronic Brachytherapy System and higher service and supply revenue. Howver, some of these gains have been offset by falling demand for digital mammography and film-based segments.

iCAD has integrated Xoft, a recent acquisition which broadens the company's footprint in oncology and allows it to bring targeted technologies to cancer patients through detection, diagnosis, treatment and therapy monitoring.

Trends and Forces

U.S. healthcare reform imposes new costs

The Affordable Care Act, signed into law in 2010, included a $20 billion tax in the form of a 2.3% excise tax levied on the total revenues of medical device manufacturers starting in 2013.[2] This excise tax will apply to iCAD's products, which will have a significant impact on its tax expenses.

The aging baby boomer population increases the demand for medical equipment

The aging baby boomer generation will increase the demand for medical services in the coming decades. Suffering mainly from high blood pressure, arthritis and diabetes, members of America's baby boomer generation accounted for over half of all visits to the doctor during 2001, according to the Centers for Disease Control.[3] Baby boomers are generally considered to be persons born during the post-World War II birth rate boom, lasting from 1946 through about 1964. According to the CDC’s latest National Ambulatory Medical Care Survey, 53 percent of patients visiting the doctor during 2001 were over age 45, compared to only 42 percent in 1992.[3]


iCAD faces competition in its mammography CAD business from Hologic. Imaging equipment manufacturers such as GE Healthcare, Siemens Medical, Philips Medical Systems and other medical imaging equipment manufacturers have explored the possibility of introducing their own versions of CAD into the market, but thus far have not had a significant impact in the market. The current regulatory requirements present a significant barrier to entry into this market.

Merge Healthcare and InVivo Corporation (Philips) are the market leaders in breast MRI CAD. Both companies also offer prostate MRI CAD solutions following iCAD’s lead in entering this market in the U.S.

iCAD's CT Colon solution faces competition from the traditional imaging CT equipment manufacturers, 3D Rendering and Analysis firms, as well as from emerging CAD companies. Siemens Medical, GE Healthcare, and Philips Medical Systems currently offer polyp detection products.


  1. "iCAD Reports First Quarter Financial Results" iCAD Investor Relations
  2. Medical Device Tax.org: Healthcare Reform, Device Tax
  3. 3.0 3.1 About.com: "Aging Baby Boomers Flocking to Doctors"

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