CAS MEDICAL SYSTEMS, INC.

CAS MEDICAL SYSTEMS, INC.

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Company Overview
CAS Medical Systems, Inc. (CASMED), with headquarters located in Branford, Connecticut, is a designer and manufacturer of diagnostic equipment and medical products vital to patient care in the most challenging clinical environments. Its product lines include blood pressure measurement technology, vital signs monitoring equipment, blood pressure cuffs, apnea monitoring equipment and products for neonatal intensive care. CASMED provides products to hospitals, emergency medical services, home care providers and original equipment manufacturers (OEMs). The company was founded in 1984.
CASMED’s growth strategy begins with research. The company fosters an atmosphere of creativity that enables its engineers, technicians and product management staff to develop products that improve patient outcomes. Through research, product development and product acquisition, it continuously expand its business and its ability to serve its customers. In addition, the company has developed partnerships with local organizations such as the American Cancer Society and the American Heart Association. CASMED is registered to ISO 13485:2003 for its Quality Management System. Its common stock is traded publicly on the NASDAQ Global Market under the symbol CASM.
Business Summary
CAS Medical Systems, Inc. (CAS) is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. Its products include the FORE-SIGHT cerebral oximeter and sensors, MAXNIBP blood pressure measurement technology, bedside monitoring products, blood pressure cuffs and neonatal supplies. The categories of products and services include Critical Care Monitoring, which includes sales of the FORE-SIGHT cerebral oximeter monitors, sensors and accessories; Blood Pressure Measurement Technology includes sales to Original Equipment Manufacturers (OEM) of non-invasive blood pressure technology (MAXNIBP) sold as a module; Bedside Monitoring includes sales of vital signs and bedside monitors and accessories, and Supplies and Service includes sales of blood pressure cuffs and rapid infusor cuffs, neonatal intensive care supplies, including electrodes and skin temperature probes, and service repair.
Description and history
CAS Medical Systems, Inc. (CAS) is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. Its products include the FORE-SIGHT cerebral oximeter and sensors, MAXNIBP blood pressure measurement technology, bedside monitoring products, blood pressure cuffs and neonatal supplies. The Company’s categories of products and services include Critical Care Monitoring, which includes sales of the FORE-SIGHT cerebral oximeter monitors, sensors and accessories; Blood Pressure Measurement Technology includes sales to Original Equipment Manufacturers (OEM) of the Company’s non-invasive blood pressure technology (MAXNIBP) sold as a discrete module to be included in the OEM customers own multi-parameter monitors, and associated blood pressure cuffs and accessories for the OEM market; Bedside Monitoring includes sales of the Company’s vital signs and bedside monitors and accessories incorporating various combinations of measurement parameters for both human and veterinary use, and Supplies and Service includes sales of blood pressure cuffs and rapid infusor cuffs, neonatal intensive care supplies, including electrodes and skin temperature probes, and service repair.

Critical Care Monitoring

CAS invented FORE-SIGHT’s LASER-SIGHT technology to fill a vital need in the care of critically ill patients. The advanced algorithms used in FORE-SIGHT monitor incorporate age and weight to optimize accuracy. The FORE-SIGHT Cerebral Oximeter non-invasively and continuously measures absolute cerebral tissue oxygen levels, enabling clinicians to identify and quickly react to instances of lowered brain oxygen levels before the situation becomes critical. With one or two single-use disposable sensors placed on the patient’s forehead, FORE-SIGHT utilizes the Company’s LASER-SIGHT Optical Technology to project near infrared light into the brain to provide an absolute measurement indicating cerebral tissue oxygen saturation. The LASER-SIGHT technology uses harmless lasers at four discrete wavelengths that are focused to measure at specific points along the oxy- and de-oxy hemoglobin spectra, which allows for accurate and repeatable readings.

Blood Pressure Measurement Technology

The Company has developed a non-invasive blood pressure measurement technology, MAXNIBP. The Company has entered into OEM agreements to supply its MAXNIBP technology to various companies throughout the world. This technology is used in larger monitoring systems where non-invasive blood pressure is one of many measurement parameters. The Company has a multi-year supply agreement with its OEM customer, Medtronic Physio-Control. During the year ended December 31, 2009, sales to this customer accounted for 11% of total Company sales.

Bedside Monitoring

The Company offers a line of non-invasive vital signs monitoring products for a variety of general care settings in hospitals, such as outpatient medical surgical units, recovery, procedure labs, physician offices and emergency response settings. The monitors are small, lightweight, portable and easy to use with central station capabilities. The Company manufactures two platforms of vital signs monitors based around its MAXNIBP non-invasive blood pressure technology and incorporating various combinations of other measurement parameters. In addition to the Company’s MAXNIBP technology, measurement options include pulse oximetry, electro-cardiography, temperature, and capnography. CASMED monitors are ideal for a range of clinical settings (both human and veterinary), including emergency medical service, medical/surgical units, out-patient care, and procedural sedation. Other products included in the bedside monitoring category are a line of cardio-respiratory monitors used to monitor apnea in home-based and hospital settings and products developed and manufactured by Analogic Corporation, or otherwise supplied through Analogic.

Supplies and Service

The Company offers a line of disposable and reusable blood pressure cuffs that can be used with any manufacturer’s monitoring equipment. The product line includes cuffs and pressure infusors manufactured by Statcorp, Inc. The blood pressure cuffs, including UltraCheck Reusable Cuffs, and SoftCheck Disposable Cuffs, can be used on patients from neonate through adult, as well as on veterinary patients, and complement the Company’s MAXNIBP blood pressure measurement technology. The Company’s Unifusor line of infusor cuffs are used to infuse intra-venous fluids into a patient. The Company has various private-label versions of both the blood pressure and infusor cuffs available for OEM partners. Also in the supplies and services category are a line of specialty neonatal supplies manufactured in our Branford, CT facility. The varied product line includes Klear-Trace ECG Electrodes, NeoGuard skin temperature probes and adhesive reflectors.

Business Line
Designer and manufacturer of diagnostic equipment and medical products vital to patient care in the most challenging clinical environments
Subsidiary
STATCORP, INC.
Advisor
UHY LLP
IPO date
5/1985
US SIC Code
3841
Company Address
44, East Industrial Road

City province or state postal code
06405, BRANFORD, CT
Phone: +1 203 488 6056
Fax: +1 203 488 9438
Country address: UNITED STATES OF AMERICA
Website url: www.casmed.com