---
schema_version: "secwatch.filing_event.v1"
accession: "0001193805-23-001436"
form_type: "8-K"
ticker: null
cik: "0000749660"
company_name: "ICAD INC"
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T17:37:38.718547+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# iCAD sells Xoft brachytherapy business to Elekta for $5.76M; Q3 rev est $5.4-$5.6M

## Summary
- Sold Xoft brachytherapy line to Elekta for ~$5.76M cash + assumed liabilities; closed Oct 22, 2023.
- Preliminary Q3 2023 revenue estimated $5.4M–$5.6M; operating expenses $5.5M–$5.7M.
- Pro forma shows Xoft contributed $3.1M revenue in H1 2023 and $8.1M in FY 2022.
- Net cash proceeds ~$4.83M after transaction costs; estimated gain on sale ~$2.64M.
- Three-year non-compete/non-solicit; transition services agreement for up to 5 months.

## SEC filing metadata
- accession: 0001193805-23-001436
- form_type: 8-K
- cik: 0000749660
- company_name: ICAD INC
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/749660/000119380523001436/0001193805-23-001436-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/749660/000119380523001436/e618999_8k-icad.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193805-23-001436
- JSON: https://secwatch.observer/filing/0001193805-23-001436.json
- Plain text: https://secwatch.observer/filing/0001193805-23-001436.txt

## Key facts
- Earnings Releases
  ICAD INC reported the three months ended September 30, 2023 results: revenue between $5.4 million and $5.6 million.
  - Period: the three months ended September 30, 2023
  - Revenue: between $5.4 million and $5.6 million
  - Result: preliminary results
  source text: The Company currently expects to report revenue for the three months ended September 30, 2023 of between $5.4 million and $5.6 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/749660/000119380523001436/0001193805-23-001436-index.htm
- M&A Transactions
  ICAD INC completed a disposition involving Elekta Inc. and Nucletron Operations B.V. for approximately $5.76 million dollars (closed 2023-10-22).
  - Action: disposition
  - Counterparty: Elekta Inc. and Nucletron Operations B.V.
  - Consideration: approximately $5.76 million dollars
  - Closing: 2023-10-22
  source text: to the Company’s Xoft business lines (the “Business”), including with respect to employees, contracts, intellectual property and inventory, for a cash payment of approximately $5.76 million dollars from the Buyers to the Company payable no later than November 6, 2023, and the assumption of all liabilities relating to the Business (the “Transaction”). This payment is
  evidence_url: https://www.sec.gov/Archives/edgar/data/749660/000119380523001436/0001193805-23-001436-index.htm
- Material Agreements
  ICAD INC entered into Asset Purchase Agreement with Elekta Inc., a Georgia corporation, and Nucletron Operations B.V., a company organized under the laws of the Netherlands valued at approximately $5.76 million dollars (effective 2023-10-22).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Elekta Inc., a Georgia corporation, and Nucletron Operations B.V., a company organized under the laws of the Netherlands
  - Value: approximately $5.76 million dollars
  - Effective: 2023-10-22
  source text: On October 22, 2023, iCAD, Inc. (the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”), by and among (i) the Company, Xoft Solutions, LLC, a Delaware limited liability company, and Xoft, Inc., a Delaware corporation, each a wholly owned subsidiary of the Company (collectively with the Company, the “Sellers” and each, a “Seller”), and (ii) Elekta Inc., a Georgia corporation, and Nucletron Operations B.V., a company organized under the laws of the Netherlands (together, “Buyers” and each a “Buyer”), pursuant to which the Company agreed to transfer to the Buyers substantially all of the assets and liabilities primarily related to the Company’s Xoft business lines (the “Business”), including with respect to employees, contracts, intellectual property and inventory, for a cash payment of approximately $5.76 million dollars from the Buyers to the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/749660/000119380523001436/0001193805-23-001436-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.