iCAD to buy CAD Sciences

Computer-aided detection (CAD) firm iCAD has signed a definitive agreement to acquire the principal assets of MRI CAD developer CAD Sciences.

iCAD will pay $2 million in cash and $3 million in shares of its common stock for the White Plains, NY-based firm. The deal will extend iCAD's product and technology portfolio and provide for the application of kinetics technology for the breast and prostate, according to the Nashua, NH-based vendor.

CAD Sciences also is developing products for therapy monitoring, identification of vascular diseases using contrast-enhanced MR angiography, and cancer detection using contrast-enhanced CT, iCAD said. The deal is expected to close early in the third quarter of 2008, subject to certain conditions.

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