NASHUA, N.H., Sept. 08, 2016 (GLOBE NEWSWIRE) -- iCAD (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 Kevin Burns, President, Chief Financial Officer and Chief Operating Officer, is resigning from the Company effective September 23, 2016. Mr. Burns’ resignation is a result of a new career opportunity and is not the result of any dispute or disagreement with the Company or any matter relating to the Company's accounting practices or financial statements.
R. Scott Areglado, Vice President and Corporate Controller, has assumed the position of interim Chief Financial Officer while the Company completes an executive search process for a permanent replacement. Ken Ferry, Chief Executive Officer, and Stacey Stevens, Executive Vice President of Marketing and Strategy, will assume the responsibilities of President and Chief Operating Officer.
“Given Scott’s many years of experience with iCAD as Vice President and Corporate Controller, we believe Scott is well prepared to manage the Company’s financial activity while we conduct a search process for a new CFO,” said Ken Ferry, CEO of iCAD. “Stacey and I look forward to continuing to work closely with the rest of our leadership team to ensure strong continuity as we continue to execute on our strategic plans. To that end, we remain on track with our key growth drivers, including potential FDA approval of our breast tomosynthesis cancer detection solution by the end of the third quarter as well as continued progress in signing new skin brachytherapy customer agreements. In addition, we are working to close the potential sale of our MRI-CAD business solutions, which will further strengthen our cash resources. Finally, we have made significant progress in expanding our sales team with the anticipated addition of 5 commercial personnel by the end of the quarter across both segments of our business.”
Mr. Areglado has served as Vice President and Corporate Controller since May 2011. From 2005 to 2010, Mr. Areglado served as Vice President and Controller at AMICAS, Inc., a NASDAQ-listed image and information management solutions company serving the healthcare industry, where he led the financial statement preparation and accounting operations for the company, including support for the successful acquisition of the company by Merge Healthcare. Mr. Areglado has more than 25 years of experience in finance and accounting and was a Certified Public Accountant from 1990 to 2007. Mr. Areglado received a Master of Business Administration degree from the Franklin W. Olin Graduate School of Business at Babson College and a Bachelor of Business Administration degree in Accounting from the University of Massachusetts, Amherst.
About iCAD, Inc.
iCAD delivers innovative cancer detection and radiation therapy solutions and services that enable clinicians to find and treat cancers earlier and faster while improving patient outcomes. iCAD offers a comprehensive range of upgradeable computer-aided detection (CAD) and workflow solutions to support rapid and accurate detection of breast, prostate and colorectal cancers. iCAD’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® is a painless, non-invasive technology that delivers high dose rate, low energy radiation, which targets cancer while minimizing exposure to surrounding healthy tissue. The Xoft System is FDA cleared, CE marked, and licensed in a growing number of countries for the treatment of cancer anywhere in the body, including treatment of early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. The comprehensive iCAD technology platforms include advanced hardware and software as well as management services designed to support cancer detection and radiation therapy treatments. For more information, visit or www.icadmed.com or www.xoftinc.com.
