iCAD Strengthens Leadership Team

iCAD Inc. has welcomed three new members to its top management team: Eric Lonnqvist as chief financial officer (CFO), Vasu Avadhanula as chief product officer (CPO), and Michelle Strong as chief operations officer (COO).
 
“As we explore new strategic approaches to execute our mission and expand our impact worldwide, experienced and visionary leadership is critical to the success of our organization. Eric, Vasu, and Michelle bring proven expertise to drive growth, increase revenue, and ensure long-term success,” iCAD President/CEO Dana Brown said. “While we have recently implemented measures to reduce expenses, we remain focused on strategically investing in our Detection business and addressing some of the top issues threatening women’s health today, such as breast cancer and cardiovascular disease. The addition of these seasoned executives will accelerate key initiatives in the company’s strategic expansion, such as new partnerships with patient advocacy groups, pharmaceutical companies, and payer organizations. I am confident that their unique skillsets and contributions will be invaluable to our progress, and we are pleased to welcome them to the team as we work to scale the impact of our AI solutions and revolutionize patient care.”

Lonnqvist brings to his position more than 15 years of finance and accounting experience in the medical device and technology industries. Prior to joining iCAD, he previously held financial roles at several companies including NetBrain Technologies, TripAdvisor, Interactive Data Corporation, and Oracle. He earned a bachelor’s degree from Fitchburg State University and an MBA from Assumption University.
 
“On behalf of the Board of Directors, I am pleased to congratulate Eric on his promotion to CFO. Eric has demonstrated strong financial acumen and a commitment to excellence in his position as vice president of Financial Planning and Analysis at iCAD since 2021, which will continue to be instrumental in leading the financial operations of the company. We would also like to thank Daniel Shea for his contributions to iCAD during his tenure as interim CFO in recent months, and we wish him the best in his future endeavors,” Brown added.
 
“I am honored to accept the position as CFO and pleased to continue to partner with our talented team to build on our momentum and deliver shareholder value. iCAD’s technologies are revolutionizing the way breast cancer is detected, and I look forward to contributing to the success of the company in this next phase of growth and innovation,” Lonnqvist stated.

Avadhanula has more than 25 years of product development, business analytics, and technology innovation experience in the healthcare and technology industries. Prior to joining iCAD, he previously served as vice president of Health Technology and Digital Transformation at Susan G. Komen, as well as a range of senior executive roles at SigmaFlow, Ignite Technologies, Thomson Reuters, and Abbott Laboratories. In his role as CPO, he’ll oversee the company’s overall product strategy and roadmap. Avadhanula earned a bachelor’s degree in engineering from University of Madras, as well as certifications from Johns Hopkins University and the Wharton School of the University of Pennsylvania. 

“With a track record of turning new ideas into successful products that disrupt the status quo and enhance the customer experience, Vasu is an outstanding leader with a proven ability to build and scale high performing global teams,” Brown said. “In his last role at Susan G. Komen, Vasu was instrumental in the success of Komen’s direct-to-patient programs and services, including the development and launch of Komen Health Cloud, a SaaS patient engagement platform as well as Share For Cures, the first patient-powered breast cancer research registry, driving digital transformation and expanding revenue opportunities. I am pleased to welcome him to the team and look forward to incorporating his unique perspective into our future roadmap.” 
 
“With a legacy of leadership in breast AI, iCAD’s innovation track record has transformed the landscape of breast cancer screening and presents tremendous potential for the future. I am delighted to join the iCAD team and look forward to building on the Company’s culture of continuous improvement to accelerate the Company’s growth and enhance the customer experience on a global scale,” Avadhanula stated.
 
Strong joins the iCAD with more than 25 years of experience in marketing and healthcare technology, most recently serving as vice president of Marketing Strategy at Susan G. Komen. Prior to that role, she held senior executive roles at LRS, Dealtaker, and Belo Interactive. As COO, Strong will lead the company’s sales, marketing and partner success teams, as well as launch new revenue-generating partnership initiatives to accelerate growth, increase revenue, and achieve profitability. She earned a bachelor of science degree from Bradley University and completed a marketing graduate program at Southern Methodist University. 

“A seasoned commercial leader, Michelle excels at strategically building and growing organizations, tackling challenging initiatives, and developing strategic partnerships. She specializes in the implementation of new business strategies that broaden awareness, bolster brand equity and drive revenue growth,” Brown said. “In her last role at Susan G. Komen, she set the overarching marketing and business development strategy for the organization. Under Michelle’s leadership, Komen’s brand health experienced significant improvement year-over-year, resulting in increased revenues and stakeholder engagement to advance its mission to save lives from breast cancer. I am pleased to welcome her to the team and am confident that her unique set of skills and expertise will be instrumental to our go-to-market success.”
 
“As the global leader in breast AI, iCAD’s market position and track record of innovation have solidified its brand equity and present promising potential for growth,” Strong stated. “With breast cancer being the most common cancer among women worldwide, the need has never been greater for iCAD’s robust suite of solutions and I look forward to working with the team to harness the large, addressable market opportunity and expand our impact around the world.”

Headquartered in Nashua, N.H., iCAD is a global medical technology leader providing cancer detection and therapy solutions.