Shipments Expected to Begin in the Third Quarter, Following Receipt of Regulatory Approval
BRANFORD, Conn. – 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 5 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.
CAS Medical Systems, Inc.
Jeffery A. Baird
Chief Financial Officer