UltraMed Technology Acquires Third Xoft Axxent Electronic Brachytherapy System

iCAD Inc. (ICAD), a leading provider of advanced image analysis, announced Thursday that its Taiwanese partner UltraMed Technology has acquired a third Xoft Axxent Electronic Brachytherapy System. The news provided little traction to shares, which are down over 3%.

With this agreement, Intraoperative Radiation Therapy (IORT) with the Xoft System will be available in nine Taiwanese hospitals.

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

ICAD shares were down 3.8% to $6.56 in early afternoon trading. The stock trades within a 52-week range of $5.16 to $14.11.

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Joseph Clements, CPA, is a senior analyst for The Downtown Leader. If you have a great story idea for Joseph Clements, you can write at [Joseph.Clements@downtownleader.com ].

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