- 6th Consecutive Year in Deloitte's Technology Fast 50 Program -
BRANFORD, Conn., Oct. 19 /PRNewswire-FirstCall/ -- CAS Medical Systems, Inc. (Nasdaq: CASM), a medical device company focused on innovative, non-invasive vital signs monitoring, today announced that it has been named to Deloitte's prestigious Technology Fast 50 Program for Connecticut, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage of revenue growth over five years from 2002-2006.
"To rank on Deloitte's Technology Fast 50, companies must have exceptional revenue growth over five years," stated Ed Moran, Director of Product Innovation, Deloitte Services. "CAS Medical Systems has proven, year after year, to be one of the fast-growth success stories in Connecticut, and we applaud their dedication to making their vision a reality."
Andrew Kersey, President and CEO of CASMED, credits the Company's 134% revenue growth from 2002-2006 to the expansion of product lines into new markets, new product introductions and acquisitions, and a dedication to continuing to improve manufacturing processes and quality. "CASMED has shown tremendous growth over the last five years in our core product areas of vital signs monitoring and non-invasive blood pressure technology. This is a testament to the strength of our organization at all levels, from design to manufacture to marketing and sales. The 2007 introduction of our new FORE- SIGHT(R) Cerebral Oximeter, a unique monitor that allows clinicians to monitor absolute oxygen levels in brain tissue and respond to instances of oxygen deprivation before brain damage occurs, provides us with opportunities to continue to further our growth at a rapid rate."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5 million in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant portion of revenues to the research and development of technology. Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit http://www.fast500.com.
Founded in 1984, CAS Medical Systems, Inc. is dedicated to the design and manufacture of innovative technologies and products vital to patient care in the most challenging clinical environments. Its current product lines include cerebral oximeters, blood pressure measurement technology, vital signs monitoring equipment, blood pressure cuffs, apnea monitoring equipment and products for neonatal intensive care. With a reputation for the highest
quality products available in the markets it serves, CASMED products are used by clinicians worldwide.
For further information regarding CAS Medical Systems, Inc., visit the Company's website at http://www.casmed.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
CAS Medical Systems, Inc.
Jeffery Baird, CFO
John Capodanno Robert Stanislaro
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, commercialization and technological difficulties, and other risks detailed in the Company's most recent Form 10-KSB and other 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.
|SOURCE CAS Medical Systems, Inc.|
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