CASMED Appoints Paul Molloy to Its Board of Directors
January 05 2015 - 8:00AM
CAS Medical Systems, Inc. (Nasdaq:CASM) (CASMED),
a leader in medical devices for non-invasive patient monitoring,
announces the appointment of Paul Molloy to the Company's Board of
Directors. Mr. Molloy's appointment increases the size of the
CASMED Board to six Directors.
Mr. Molloy is President and CEO of ClearFlow, Inc., a medical
device company focused on commercializing a patented post-surgical
wound management system for the prevention of retained blood
complications. Prior to ClearFlow he served as CEO of VasoNova,
Inc., a vascular ultrasound navigation technology company that was
acquired by Teleflex Inc. (NYSE:TFX). Mr. Molloy was subsequently
appointed President of Teleflex's largest division, where he
successfully merged VasoNova into the ARROW vascular business unit
with responsibility for direct sales, U.S. and overseas
manufacturing facilities, R&D and strategic planning.
"Paul brings to the CASMED Board of Directors a powerful
combination of executive management experience, significant domain
knowledge in patient monitoring and anesthesia product sales, and
nearly a decade of hands-on clinical work in anesthesiology. He has
been a key member of teams that have built companies around novel
technologies and expanded operations both domestically and
overseas," said Thomas M. Patton, President and Chief Executive
Officer of CASMED. "Paul is a well-rounded global medical device
executive, and we are delighted to have a professional of his
caliber join our Board."
Earlier in his career Mr. Molloy was CEO of MiCardia
Corporation, a medical device company focused on cardiology,
President and Managing Director of LMA International NV, a provider
of advanced airway management and respiratory devices, and
Executive Vice President at Radiance Medical Systems, manufacturer
of a coronary brachytherapy device. He began his business career as
Director of International Sales and Marketing at Datascope Corp.,
where he was responsible for sales, marketing and distribution for
the cardiac assist division in markets outside the U.S. Prior
to Datascope he was a nurse anesthetist at Alkmaar Medical
University in North Holland.
Mr. Molloy serves as a Director of ClearFlow and Velava Vascular
Inc. He holds a degree in hospital administration from the
Instituut der Bedrijfswetenschappen in Utrecht, the Netherlands, a
CRNA (certified registered nurse anesthetist) from Alkmaar Medical
University and an MBA from the University of Chicago Booth School
of Business.
About CASMED® – Monitoring What's Vital
CASMED is a leading developer and manufacturer of medical
devices for non-invasive patient monitoring. The Company's
FORE-SIGHT® Absolute Cerebral Oximeter provides a 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. CASMED products are
designed to provide unique monitoring solutions that are vital to
patient care. For more information regarding CASMED, visit the
Company's website at www.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 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,
the impact of any product liability or other adverse litigation,
working capital and availability of capital, commercialization and
technological difficulties, the impact of actions and events
involving key customers, vendors, lenders, competitors, and other
risks detailed in the Company's Form 10-K for the year ended
December 31, 2013, 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.
Company Contact |
CAS Medical Systems, Inc. |
Jeffery A. Baird |
Chief Financial Officer |
(203) 315-6303 |
ir@casmed.com |
|
Investors |
LHA |
Bruce Voss |
(310) 691-7100 |
bvoss@lhai.com |
@LHA_IR_PR |
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