$2.2 MILLION NEUROLOGY CONTRACT ACCELERATES GROWTH INTO CHINA
- Compumedics signs AUD 2.2 million (USD 1.7 million) three-year distribution contract for its neurological monitoring systems
- Contract covers provinces in South East China and complements Compumedics’ current sleep diagnostic distribution arrangements
- Strong neurology monitoring growth platform
- Asian EEG
- Approximately AUD 900 million of the brain monitoring device market
- CAGR: 10.40%: AUD 81.8 million PA in 2013 to AUD 133.0 million by 2018
- Compumedics is Number One premium supplier of sleep diagnostics and neurological research systems in China
Compumedics Limited (ASX: CMP) (“Compumedics”and“Company”) is pleased to announce that it has secured a new three-year contract, for the distribution of Compumedics’ neurological monitoring systems across provinces in South East China.
The contract is complementary to Compumedics existing arrangements for the distribution of its sleep diagnostic range in China and includes a new order for AUD 700K worth of neurological monitoring systemsto be shipped in the current financial year.
In commenting on Compumedics’ market growth in China, Dr David Burton, Chairman and CEO of Compumedics, said:
“Compumedics has spent many years, with our Chinese partners, building a foundation for future growth in one of the worlds most challenging but highest growth markets. and is now the number one premium supplier of sleep diagnostic and neurological research systems in China.
“As a result, Compumedics is well positioned to capture growth, not only in sleep diagnostics, but also in neurological monitoring, a relatively new and untapped market for the Company in China and other parts of Asia.”
Compumedics remains focused on continuing the Company’s initial penetration of the neuro-diagnostic market, with their range of neuro-diagnostic products, including the Neuvo® LTEM (long-term EEG-monitoring) system.
About Compumedics Limited
Compumedics Limited (ASX: CMP) is a medical device company involved in the development, manufacture and commercialisation of diagnostics technology for the sleep, brain and ultrasonic blood-flow monitoring applications. The Company owns US based Neuroscan and Germany based DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including Americas; Australia and Asia Pacific; and Europe and the Middle East.
Executive Chairman, Dr David Burton, founded Compumedics in 1987. In the same year the Company successfully designed and installed the first Australian, fully computerised Sleep Clinic at Epworth Hospital in Melbourne. Following this early success, Compumedics focused on the development of products that sold into the growing international sleep clinic and home monitoring markets. Compumedics listed on the Australian Securities Exchange in 2000. Over the years, Compumedics has received numerous awards and accolades including Australia’s exporter of the year and has been recognised as a Top 100 Innovatorby the both German and Australian Governments.