iCAD’s proposed acquisition by RadNet recommended by ISS, Glass Lewis

iCAD (ICAD) announced that independent proxy advisory firms Institutional Shareholder Services, or ISS, and Glass, Lewis have each recommended that stockholders vote “for” the acquisition of the company by RadNet (RDNT) at the company’s upcoming Special Meeting of Stockholders July 14. iCAD entered into a definitive merger agreement under which RadNet will acquire iCAD in an all-stock transaction. The acquisition is structured to accelerate the deployment of iCAD’s ProFound AI breast health solutions across RadNet’s DeepHealth portfolio, expanding access to early breast cancer detection. ISS and Glass Lewis each reviewed the transaction and concluded that it is in the best interests of iCAD stockholders. Both firms cited the Board’s reasonable review of alternatives, the implied premium and the opportunity for iCAD stockholders to participate in the potential upside of the combined entity in their recommendations. iCAD’s board also unanimously recommends that stockholders vote for the merger, and all related matters to be voted upon at the Special Meeting.