BRANFORD, Conn., Sept. 12, 2013 (GLOBE NEWSWIRE) -- CAS Medical Systems, Inc. (Nasdaq: CASM ) (CASMED), a leader in medical devices for non-invasive patient monitoring, today announced it recently recorded the first commercial sale of its next generation FORE-SIGHT ELITE™ Cerebral Oximetry products. The Company received U.S. Food and Drug Administration (FDA) clearance for the ELITE in mid-April and began a controlled product introduction in August with select customers for evaluation purposes.
"We are on track with our rollout of the ELITE and are very pleased with the customer response thus far," said Thomas M. Patton, President and Chief Executive Officer of CASMED. "With ELITE's new features, lower production cost, and even greater accuracy, we have widened our competitive advantage. Commercial sales began following a successful evaluation period in which FORE-SIGHT ELITE was utilized in surgery at some of the country's finest hospitals and after completing comprehensive sales training with our distribution partners around the world. We believe the ELITE can increase our share of the market and also drive overall market growth by helping establish cerebral oximetry as a standard of care."
The FORE-SIGHT ELITE is lighter and more portable than the prior model and includes several important new features for customers, such as ability to monitor four channels of patient information; a larger, higher contrast viewing screen; and intuitive touch-screen controls. A revolutionary system using five wavelengths of light to interrogate tissue under the sensor allows the ELITE to measure oxygenation at levels of accuracy previously not seen.
"Monitoring cerebral oximetry is a critical element of our treatment protocols for many of our surgical patients. Therefore, it is incumbent upon us to use the best monitoring solutions available," said Gregory Fischer, M.D., Director of Adult Cardiothoracic Anesthesia, Interim Director Cardiothoracic Intensive Care, and Professor of Anesthesiology & Cardiothoracic Surgery at Mount Sinai Hospital in New York City. "From our early investigational work with the product through our initial clinical use, it appears that FORE-SIGHT ELITE sets a new standard for accuracy and ease of use in cerebral monitoring."
About CASMED ® – Monitoring What's Vital
CASMED is a leading developer and manufacturer of medical devices for non-invasive patient monitoring. The Company's FORE-SIGHT ® Absolute Cerebral Oximeter provides a 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. CASMED products are designed to provide unique monitoring solutions that are vital to patient care. For more 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, 2012, 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 Investors LHA Don Markley () (310) 691-7105 Bruce Voss () (310) 691-7100 @LHA_IR_PR
