BRANFORD, Conn., May 29, 2014 (GLOBE NEWSWIRE) -- CAS Medical Systems, Inc. (Nasdaq: CASM ) (CASMED), a leader in medical devices for non-invasive patient monitoring, today announced that it has signed an agreement with Century Medical, Inc. to serve as the exclusive distributor of the Company's FORE-SIGHT ELITE® Cerebral Oximeters in Japan.
Century Medical has a 40-year history as a distributor of quality medical products. Century Medical will sell the FORE-SIGHT oximetry products through its cardiovascular division, which includes more than 25 field personnel across seven offices. By bringing best-in-class products to their clinician customers, Century Medical has a strong track record of success in building and expanding markets with unique products from some of the world's leading medtech companies. Century Medical is a subsidiary of ITOCHU Corporation, Japan's third largest trading company.
"Establishing high-quality distribution with comprehensive reach in the world's second-largest medical market represents another key milestone for our Company," said Thomas Patton, CASMED's President and CEO. "With an existing product portfolio that is complementary to FORE-SIGHT oximetry along with established relationships with key decision makers across Japan, Century Medical is the ideal partner for us. In addition, they have a well-earned reputation for providing innovative products supported by a high level of customer service."
"We look forward to building a long-term relationship with CASMED and to establishing the FORE-SIGHT ELITE Oximeter as the market leader in Japan," said Akira Hoshino, President and CEO of Century Medical. "Many of our customers are familiar with FORE-SIGHT oximetry from the body of literature that has been published in support of the product and from its success in the United States, and are keenly interested in gaining first-hand experience with this best-in-class technology."
CASMED expects the regulatory approvals necessary to permit Century Medical to market the product in Japan to be received early in the third quarter of 2014.
About CASMED ® – Monitoring What's Vital
CASMED is a leading developer and manufacturer of medical devices for non-invasive patient monitoring that are vital to patient care. The Company's FORE-SIGHT Absolute Cerebral Oximetry technology provides highly accurate, non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation. Direct monitoring of tissue oxygenation provides a superior and powerful tool to alert clinicians to otherwise unrecognized and dangerously low levels of oxygenation of the brain and other tissues, thereby allowing them to intervene appropriately in the care of their patients. In addition to FORE-SIGHT Oximeters and accessories, the Company provides a line of bedside patient vital signs monitoring products, proprietary non-invasive blood pressure monitoring solutions for OEM use, neonatal intensive care supplies, and service.
For further information regarding CASMED, visit the Company's website at www.casmed.com .
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company's Form 10-K for the year ended December 31, 2013, and other subsequent Securities and Exchange Commission filings.
Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate," "believe," "estimate," "expect," "may," "objective," "plan," "possible," "potential," "project," "will," and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Company Contact CAS Medical Systems, Inc. Jeffery A. Baird Chief Financial Officer (203) 315-6303 Investor Contact LHA Bruce Voss (310) 691-7100 @LHA_IR_PR
