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With Dr. Rachel Brem of GW on Board, iCAD Completes $15M Offering - cbl
Posted January 12, 2012
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Dr. Rachel Brem
By Richard Rabicoff
NASHUA, N.H. - Medical imaging company iCAD, Inc. completed an offering of $15 million in mixed securities.
The related SEC filing named Chairman Dr. Lawrence Howard, of New York-based Hudson Ventures, L.P.; President and CEO Kenneth Ferry, CFO Kevin Burns, SVP Marketing Stacey Stevens, and SVP Research and Development Jonathan Go.
Directors listed include:
• Dr. Rachel Brem, George Washington University School of Medicine, Washington, DC
• Anthony Ecock, New York-based Welsh, Carson, Anderson & Stowe
• Steven Rappaport, New York-based RZ Capital, LLC
• Michael Klein, former CEO of Xoft, Inc.
• Elliot Sussman, University of South Florida College of Medicine.
• Somu Subramaniam, New York-based New Science Ventures
Ferry has served as a iCAD's president and chief executive officer since May 2006. Previously, he was Senior Vice President and General Manager for the Global Patient Monitoring business for Philips Medical Systems. Earlier, he held a series of management positions with Hewlett Packard Co. and Agilent Technologies, Inc.
iCAD is a provider of image analysis and workflow solutions that assist healthcare professionals in identifying pathologies and pinpointing cancer.
Scarsdale, N.Y.-based Stephen DeNelsky received $435,000 for assistance in structuring the transaction.
SEC filing: http://tinyurl.com/77kzre7
Bios
Dr. Rachel Brem is currently the Director of Breast Imaging and Intervention, Professor of Radiology and the Vice-Chairman in the Department of Radiology at The George Washington University Medical Center, positions she has held since 2000. From 1991 to 1999 Dr. Brem was previously the Director of Breast Imaging at the John Hopkins Medical Institution. Dr. Brem's research includes Minimally Invasive Breast Biopsy, New Technologies for the Earlier Diagnosis of breast cancer including Computer Aided Detection, as well as Nuclear Medicine Imaging of the Breast and Electrical Impedance Imaging of the Breast.
Steven Rappaport has been a partner of RZ Capital, LLC since July 2002, a private investment firm that also provides administrative services for a limited number of clients. From March 1995 to July 2002, Mr. Rappaport was Director, President and Principal of Loanet, Inc., an online real-time accounting service used by brokers and institutions to support domestic and international securities borrowing and lending activities. Loanet, Inc. was acquired by SunGard Data Systems in May 2001. From March 1992 to December 1994, Mr. Rappaport was Executive Vice President of Metallurg, Inc. ("Metallurg") and President of Metallurg's subsidiary, Shieldalloy Corporation. He served as Director of Metallurg from 1985 to 1998. From March 1987 to March 1992, Mr. Rappaport was Director, Executive Vice President and Secretary of Telerate, Inc. ("Telerate"), an electronic distributor of financial information. Telerate was acquired by Dow Jones over a number of years commencing in 1985 and culminating in January 1990, when it became a wholly-owned subsidiary. Mr. Rappaport practiced corporate and tax law at the New York law firm of Hartman & Craven from August 1974 to March 1987. He became a partner in the firm in 1979. Mr. Rappaport is currently serving as an independent director of Presstek and a number of open and closed end American Stock Exchange funds of which Credit Suisse serves as the investment adviser.
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