CAS Medical Systems Inc. (NSDQ:CASM) named Thomas Patton president and CEO.
Prior to his arrival, Patton acted as an advisor for Greenwich, Conn.-based Ferrer Freeman & Company LLC, a private equity firm, and served as CEO at hematology diagnostics start-up QDx Inc. Prior to that he was CEO of Memphis, Tenn.-based Wright Medical Group.
Patton said, “I am excited to lead CASMED through the next phase of growth as we continue to commercialize our proprietary Fore-Sight Absolute Oximetry technology and expand on our strengths in our MAXNIBP non-invasive blood pressure technology," in a prepared statement.
He replaced Andrew Kersey, who the company’s board wished "the best," in a prepared statement.
CASMED closed a sale of $1.9 million worth of common stock to a private group of investors for $1.40 per share. At market close today, the company’s stock was trading at $2.16 per share.
