iCAD completes $5M purchase of CAD Sciences

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iCAD, a provider of computer-aided detection (CAD) solutions, has completed its previously announced agreement to purchase the principal assets of CAD Sciences, a medical technology company based in White Plains, N.Y. 

The purchase price was $5 million, comprised of $2 million in cash and more than 1 million shares of iCAD common stock. The number of shares issued was calculated using the average closing price for the 10 consecutive trading days immediately preceding the closing, according to the Nashua, N.H.-based iCAD.

The “acquisition now extends our reach in the imaging modalities of CT and MRI,” said Ken Ferry, president and CEO of iCAD.