Partnership with UltraMed Technology Corporation Drives Expansion of Xoft’s Intraoperative Radiation Therapy to Nine Taiwanese Hospitals

NASHUA, N.H. — (BUSINESS WIRE) — June 19, 2014 — iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced that UltraMed Technology Corporation, the Company’s partner in Taiwan, has purchased a third Xoft^® Axxent^® Electronic Brachytherapy System^®. With this agreement, Intraoperative Radiation Therapy (IORT) with the Xoft System is now available in nine Taiwanese hospitals, helping meet the growing demand for IORT in the country.

“Xoft began our relationship with UltraMed Technology Corporation three years ago, with the goal of expanding our IORT global footprint,” said Ken Ferry, President and CEO of iCAD, Inc. “Since that time, the partnership has grown and we hope to build on the momentum we have established with the UltraMed team to increase patient access to our IORT solution in Taiwan and in other Asian markets.”

IORT is delivered at the time of a breast cancer surgery in just one dose. After the breast surgeon performs a lumpectomy, or removal of the early-stage breast cancer tumor, radiation is targeted directly into the tumor cavity, to kill any remaining cancer cells. Because the radiation is administered in such a targeted manner, it minimizes the radiation to surrounding healthy tissue and organs. IORT eliminates the logistically impractical five-to-seven week daily regimen of traditional whole breast radiation therapy. In most cases, patients are able to go home the same day and do not have to return for follow up treatments.

The Xoft System is a mobile and flexible therapy option that can dramatically reduce treatment times compared to whole breast radiation therapy for the treatment of early-stage breast cancer. When used for IORT, the Xoft System delivers a single, prescribed, targeted dose of isotope-free radiation eliminating the need for a shielded treatment environment.

“The incidence of breast cancer in Taiwan is amongst the highest in all of Asia and is the most prevalent form of cancer in Taiwanese women,” said Tony Kuo, CEO of UltraMed Technology Corporation. “Being able to provide customers cutting-edge technology including the Xoft System helps them offer more treatment options to their patients.”

To learn more about the Xoft System visit UltraMed Technology Corporation’s booth at Changhua Christian Hospital’s International Breast Cancer Conference July 7, 2014 at Changhua Christian Hospital in Changhua City, Taiwan.

About Xoft Axxent Electronic Brachytherapy System

The Xoft Axxent System is an isotope-free radiation treatment cleared by the U.S. Food and Drug Administration and CE marked in the EU for use anywhere in the body, including for the treatment of early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. It utilizes a proprietary miniaturized x-ray as the radiation source that delivers precise treatment directly to cancerous areas while sparing healthy tissue and organs. The Xoft System requires only minimal shielding and therefore does not require room redesign or construction investment. Minimal shielding also allows medical personnel to remain in the room with the patient during treatment. The mobility of the Xoft System makes it easy to treat patients at multiple locations and to easily store the system when not in use. Xoft is a wholly owned subsidiary of iCAD, Inc. For more information about Xoft visit www.xoftinc.com, like us on Facebook or follow us on Twitter at @xofticad.

About UltraMed Technology Corporation

UltraMed Technology Corporation’s management team has more than 160 years experience in the medical industry, and keeps very good relationships with key opinion leaders in these fields, especially in the treatment of cancer. The Xoft Axxent System has been approved by Taiwan FDA for use anywhere in the body, including early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. Currently the Xoft Axxent System is the leading product for the treatment of early-stage breast cancer with IORT in Taiwan and has entered into a growth stage. Tony Kuo has joined the company as Chief Executive Officer and has over 40 years of experience in the medical and pharmaceutical industry, including sales and marketing experience in oncology. For more information, please visit www.ultramed-tech.com.tw.

About iCAD, Inc.

iCAD is an industry-leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of common cancers. iCAD offers a comprehensive range of high-performance, upgradeable CAD solutions for mammography and advanced image analysis and workflow solutions for Magnetic Resonance Imaging, for breast and prostate cancers and Computed Tomography for colorectal cancer. iCAD’s Xoft^® Axxent^® Electronic Brachytherapy (eBx^®) System^®, offers radiation treatment for early-stage breast cancer that can be administered in the form of intraoperative radiation therapy or accelerated partial breast irradiation. The Xoft System is also cleared for the treatment of non-melanoma skin cancer and gynecological cancers. For more information, call 877-iCADnow, or visit www.icadmed.com .