Hyvarinen et al have developed an ICA based method for image denoising. The major advantage of their method is that the transformation matrix can by adjusted to suit the available data. However, in their method, the transformation matrix and shrinkage parameters need to be learned from noise-free data. In this paper, we propose a simplified shrinkage scheme, which has only one heuristic control parameter. Experimental results show that the ICA based method with this new shrinkage scheme achieves comparable performance as that of Hyvarinen et al.