iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, announced that a growing number of hospitals and imaging centers in the U.S. and Europe are increasingly choosing to adopt iCAD’s Breast AI Suite, which includes ProFound AI®, ProFound AI® Risk, and PowerLook® Density Assessment, via a subscription model.
iCAD’s subscription model offers an accelerated way for customers to adopt, deploy and scale the Company’s technologies, with significantly lower up-front costs, compared to a one-time license sale. These models also offer customers the ability to add new functionalities more easily than in a one-time license sale model, and without costly capital outlays while driving long-term recurring revenue opportunities for the Company. iCAD’s Breast AI Suite includes ProFound AI, the first AI cancer detection software for 3D mammography to be cleared by the FDA, PowerLook Breast Density Assessment, which aids in accurate and consistent density-based stratification and reporting, and ProFound AI Risk, the world’s first and only clinical decision support tool that provides an accurate short-term, breast cancer risk estimation that is truly personalized for each woman, based on age, breast density, and mammographic features.
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