CASMED brings in $1.9 million in private stock sale

June 16, 2010 by MassDevice staff

CAS Medical Systems Inc. completes private placement of common stock for nearly $2 million.

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CAS Medical Systems Inc. (NSDQ:CASM) closed a sale of $1.9 million worth of common stock to a private group of investors.

The Branford, Conn.-based device maker brought in $1.9 million with the sale of nearly 1.38 million shares of stock at $1.40 per share.

In addition to supporting the company's operations, the new capital will fund its planned investments in the cerebral oximetry market, CASMED said in a press release.

The company's Fore-sight absolute cerebral oximeter is the only such surgical monitoring device that is FDA approved for non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation for all patients, regardless of age or weight, according the release.

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