ICAD - iCAD Inc. Announces Sale of Xoft its Brachytherapy Business Line to Elekta | Benzinga
NASHUA, N.H., Oct. 23, 2023 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ:ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions announced today that Elekta (EKTA-B.ST), the world leader in brachytherapy solutions, has agreed to acquire Xoft, a subsidiary of iCAD, Inc. for approximately $5.5 million and assumed liabilities. Elekta is taking over the business effective immediately and will make final payment no later than November 6, 2023. By acquiring the Xoft® Axxent® Electronic Brachytherapy (eBx®) System®, Elekta will be able to offer electronic brachytherapy technology to provide expanded access to treatment for a range of cancers.
Xoft's unique technology provides targeted cancer care expertly tailored to meet patients' personalized needs. The carefully designed Xoft eBx System empowers physicians with full confidence to precisely and effectively treat cancer and enable patients to live healthy, high-quality lives.
"As we've disclosed, we have been in the process of exploring strategic options for the Xoft business that would accelerate the accessibility of this technology and provide more focus and synergies to its growth. We are pleased that Elekta will be acquiring the Xoft subsidiary including both the technology and team," ...