CAS Medical Systems, Inc. Announces Multi-Year Purchase & Sale Agreement with Major U.S. Health Plan Provider
Branford, Conn. – September 8, 2009 – CAS Medical Systems, Inc. (NASDAQ: CASM) today announced the recent completion of a multi-year purchase and sale agreement with one of America’s largest not-for-profit health care providers, serving over 8 million members. Under the terms of this agreement, the hospital system will purchase CASMED’s blood pressure cuffs for its network of over 30 hospitals and more than 400 associated physician offices and medical centers. The agreement includes CASMED’s SoftCheck® Disposable and UltraCheck® Reusable BP Cuffs.
Andrew E. Kersey, President and Chief Executive Officer of CASMED stated, “Establishing a multi-year agreement with this prestigious healthcare system is directly in line with our strategy to target the sale of products directly to hospital purchasing groups. This strategy is aimed at improving service to the customer and increasing CASMED’s margins. Initial hospital conversions are already underway with positive feedback from both the clinical end users and biomedical groups within these facilities.”
About CASMED® - Monitoring What’s Vital
CAS Medical Systems, Inc. is a leading developer and manufacturer of medical devices for non-invasive patient monitoring. The Company’s FORE-SIGHT Absolute Cerebral Oximeter is the first cerebral oximeter available with FDA clearance for non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation for neonates, infants, children and adults. This information helps avert brain damage or death during surgery and in critical care situations by allowing clinicians to identify patients with dangerously low levels of cerebral oxygen and intervene to reverse the condition.
The Company’s product lines include the high-acuity monitoring capabilities of the FORE-SIGHT Cerebral Oximeter; the bedside patient monitoring line of vital signs and cardio-respiratory monitoring products, proprietary non-invasive blood pressure measurement technology, and supplies and service including blood pressure cuffs and products for neonatal intensive care. CASMED products are designed to meet the needs of a full spectrum of patient populations worldwide, ranging from adults to pediatrics and neonates.
For further information regarding CAS Medical Systems, Inc., visit the Company’s website at www.casmed.com.
Company Contacts
CAS Medical Systems, Inc.
Susan Carron
Director of Corporate Communications
203-488-6056
ir@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 financial 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, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors and lenders, and other risks detailed in the Company’s Form 10-K for the year ended December 31, 2008 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.
