$3.870
+0.145 (+3.75%)At close
ICAD News
ICAD Events
Deutsche Bank Lowers Icade Price Target to EUR 21, Maintains Hold Rating
Deutsche Bank lowered the firm's price target on Icade to EUR 21 from EUR 22 and keeps a Hold rating on the shares.
RadNet's DeepHealth complete acquisition of iCAD
RadNet (RDNT) announced that it has completed the acquisition of iCAD (ICAD). The integration of iCAD's complementary commercial, technology, and regulatory capabilities into DeepHealth advances DeepHealth's mission to address clinical and operational challenges in screening and diagnosis by harnessing the power of AI and imaging. Kees Wesdorp, President and CEO of RadNet's Digital Health segment, commented, "We are excited to welcome the iCAD team to DeepHealth. The integration of iCAD further empowers DeepHealth to meet the real-world clinical needs of today, from improving the accuracy and early detection of breast cancer to orchestrating large-scale screening programs, while shaping the future of breast cancer management. Our combined capabilities position us for accelerated growth and rapid delivery of transformative, AI-powered population health solutions."
iCAD's proposed acquisition by RadNet recommended by ISS, Glass Lewis
iCAD announced that independent proxy advisory firms Institutional Shareholder Services, or ISS, and Glass, Lewis have each recommended that stockholders vote "for" the acquisition of the company by RadNet (RDNT) at the company's upcoming Special Meeting of Stockholders July 14. iCAD entered into a definitive merger agreement under which RadNet will acquire iCAD in an all-stock transaction. The acquisition is structured to accelerate the deployment of iCAD's ProFound AI breast health solutions across RadNet's DeepHealth portfolio, expanding access to early breast cancer detection. ISS and Glass Lewis each reviewed the transaction and concluded that it is in the best interests of iCAD stockholders. Both firms cited the Board's reasonable review of alternatives, the implied premium and the opportunity for iCAD stockholders to participate in the potential upside of the combined entity in their recommendations. iCAD's board also unanimously recommends that stockholders vote for the merger, and all related matters to be voted upon at the Special Meeting.
iCAD reports Q1 EPS (3c), consensus (6c)
Reports Q1 revenue $4.87M, consensus $4.54M. Dana Brown, president and CEO of iCAD commented, "We saw meaningful progress this quarter with increasing adoption of our cloud-based solutions and steady demand for our ProFound Breast Health Suite bringing total annual recurring revenue (TARR) to $10.7 million, supported by 19 new cloud deals. While year-over-year consolidated revenue decreased slightly due to the anticipated revenue recognition shift associated with our SaaS transition, we achieved improved gross margin of 86% compared to 83%, driven by higher-margin cloud revenues, and reduced operating expenses by 4%."
iCAD collaborates with Microsoft to provide access to mammography solutions
iCAD (ICAD) announced a collaboration with Microsoft (MSFT), to include a set of AI-powered mammography solutions in iCAD's ProFound Breast Health Suite on Microsoft's Precision Imaging Network. The iCAD and Microsoft collaboration provides access to automated radiology mammography reporting for patients through Microsoft's advanced radiology reporting platform, PowerScribe. iCAD's ProFound AI Breast Health Suite will be fully cloud-hosted across Microsoft's extensive network, providing radiologists and healthcare providers with streamlined, AI-driven insights that help to elevate breast health detection, enhance clinical workflows, and ultimately aim to improve patient outcomes.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.