Healthcare Industry News: Digital Radiography
News Release - May 8, 2007
Analogic Corporation and CAS Medical Systems Inc. Announce Agreement to Co-brand Analogic's LIFEGARD Family of Non-invasive Patient MonitorsPEABODY, Mass. and BRANFORD, Conn., May 8 (HSMN NewsFeed) -- Analogic Corporation (Nasdaq: ALOG ) and CAS Medical Systems, Inc. (Nasdaq: CASM ) announced today that they have signed an agreement granting worldwide exclusive rights to CAS Medical (CASMED) to market and sell Analogic's innovative LIFEGARD® family of non-invasive patient monitors. The monitors will be co-branded with both the CASMED and Analogic names. Both companies intend to work together to develop additional monitors for the growing LIFEGARD family and for other specialty niche markets.
The LIFEGARD family includes the highly portable, versatile LIFEGARD I vital signs monitor targeting low-acuity areas; the powerful LIFEGARD II that measures ECG, HR, SpO2, NIBP, Temperature, Respiration, end-tidal CO2, and optional non-invasive cardiac output via Impedance Cardiography (ICG); the LIFEGARD ICG, a compact, stand-alone, non-invasive cardiac output and hemodynamic status monitor; and the LIFEGARD Vue Central Nurses' Station. The LIFEGARD family also includes the FETALGARD Lite® Fetal Monitor, and the FETALGARD Lite - NIBP which measures maternal non-invasive blood pressure for monitoring Pregnancy-Induced Hypertension (PIH). Further information on the LIFEGARD family of monitors can be found at www.casmed.com/lifegard.
Andrew Kersey, President and CEO of CASMED, said, "We are pleased to be adding the LIFEGARD family of patient monitors to complement our existing vital signs monitors. Co-branding with the trusted Analogic brand-name will enable us to provide our customers with an even wider range of superior, specialized non-invasive monitoring products. Leveraging CASMED's global strengths in marketing, sales and distribution, and its proprietary MAXNIBP® technology, together with Analogic's expertise in engineering and product design, the Companies will be able to more successfully address the changing needs of the sub-acute care and specialty patient monitoring markets."
Dan Webster, General Manager of Analogic's Life Care Systems Division, said, "This agreement will enable the innovative LIFEGARD non-invasive vital signs and specialty monitors we've developed to reach a much broader market worldwide. We now will focus our attention on what we do best: conceiving, designing, developing, and manufacturing specialized patient monitors for Original Equipment Manufacturers (OEMs), to meet the rapidly evolving needs of the monitoring marketplace."
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 monitors, blood pressure cuffs, cardio-respiratory monitors 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 www.casmed.com.
Analogic Corporation is a leading designer and manufacturer of advanced health and security systems and subsystems sold primarily to Original Equipment Manufacturers (OEMs). The Company is recognized worldwide for advancing the state of the art in Computed Tomography (CT), Digital Radiography (DR), Ultrasound, Magnetic Resonance Imaging (MRI), and Patient Monitoring. For further information, visit www.analogic.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 Companies 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 Companies' most recent Forms 10-KSB and other Securities and Exchange Commission filings.
Such statements are based upon the current beliefs and expectations of the Companies' 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
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