CAS Medical Systems (Acquired) (NASDAQ:CASM)


Tuesday, February 12, 2019


CAS Medical Systems, Inc.  (NASDAQ:CASM) ($1.79, $49.8M market cap), a medical device company agrees to be acquired by Edwards Lifesciences for $2.45 per share.

"We are pleased with this opportunity to bring together CASMED's expertise in brain and tissue oxygenation monitoring with Edwards' long history of leadership in hemodynamic monitoring," said Thomas M. Patton, president and CEO of CASMED.  "We are confident that the combination of these technologies will result in an important measurement tool for physicians that can empower them to improve care."

Obviously, this news will move the stock off Maj’s Favorite List, leaving an open spot for what we feel to be the next best stock from our full list. We’ll provide an update on this as soon as we come to a consensus on what that stock should be.

CASM was also part of our Mock Takeover Candidate Portfolio, and while the price was not what we were hoping for, the takeover came to fruition. We will be looking into the terms of the deal to see if we can potentially fight for a better price for shareholders. Management had been alluding to reaching an inflection point upon finding a sales partner, which they recently did. Management has also suggested that the company’s stock was undervalued at its pre-takeover price. We’ll be mindful of this as we look at available options to fight for a better price for shareholders.