BRANFORD, Conn., June 4, 2013 (GLOBE NEWSWIRE) -- CAS Medical Systems, Inc. (Nasdaq:CASM) (CASMED), a leader in medical devices for non-invasive patient monitoring, announces receipt of U.S. Food and Drug Administration (FDA) 510(k) clearance for its next-generation 740 SELECTTM vital signs monitor and its MAX IQ™ non-invasive blood pressure technology. The Company expects to begin fulfilling orders for these products during the third quarter of 2013.
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"Our distribution channel has been eagerly awaiting regulatory clearance of the 740 SELECT, providing state-of-the-art improvements to a 10-year-old product line," said Thomas M. Patton, President and Chief Executive Officer of CASMED. "The 740 SELECT has significantly upgraded features, including touchscreen controls and customizable information displays and is offered with the newest technology available from our pulse oximetry partners. Our MAX IQ next generation non-invasive blood pressure platform allows us to offer various cost effective solutions to our OEM partners. Combined with FDA clearance of our FORE-SIGHT ELITE Cerebral Oximeter in April, CASMED is now well-positioned to approach the marketplace with three entirely new products in the second half of the year."
CASMED's legacy 740® Monitor is a highly regarded brand known for portability and performance in rugged environments. Since its introduction in 2003, the product has enjoyed acceptance around the world, including the sale of more than 16,000 monitors to the U.S. Veterans Administration alone. The Company's new 740 SELECT monitor can be configured with various parameters in addition to MAX IQ non-invasive blood pressure, including predictive temperature, and/or pulse oximetry solutions, making CASMED monitors ideal for a range of human and veterinary clinical settings.
"This approval is another significant milestone for CASMED as we execute on the growth strategy adopted two years ago, and sets the stage to deliver cutting edge technology to our strengthened distribution channels," Mr. Patton continued.
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.
CAS Medical Systems, Inc.
Jeffery A. Baird
Chief Financial Officer
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Source:CAS Medical Systems, Inc.