Parascript Awarded $244,479.25 Affordable Care Act Grant From the U.S. Government

LONGMONT, Colo., Nov. 8, 2010 /PRNewswire/ -- Parascript, LLC, the image analysis and pattern recognition technology provider, today announced that it was awarded a cash grant of $244,479.25 under the U.S. Government's Affordable Care Act. Under this act, the therapeutic discovery project program targets projects that show significant potential to produce new therapies, address unmet medical needs, reduce the long-term growth of health care costs or advance the goal of curing cancer within the next 30 years. The allocation of the credit also reflects which projects show the greatest potential to create and sustain high-quality, high-paying jobs in the United States and to advance the competitiveness in the fields of life, biological, and medical sciences.

"We are very thankful to be recognized by the U.S. government with this grant for our Computer Aided Detection (CAD) software," said Alexander Filatov, president of Parascript. "This grant will help support our ongoing research to help radiologists detect cancers earlier and improve women's health."

Parascript AccuDetect is unique in that it achieves high sensitivity and low false positive rates through the integration of several complementary algorithms and a sophisticated voting scheme within a single CAD system.  AccuDetect is intended to assist radiologists in the early detection of breast cancer during mammography screening exams.

About Parascript, LLC

The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Bowe Bell + Howell, CheckFree – now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens and Unisys. Parascript is online at http://www.parascript.com.

SOURCE Parascript, LLC

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