COMPUMEDICS STRENGTHENS EUROPEAN BUSINESS WITH FRENCH GOVERNMENT GRANT
- Compumedics secures, in association with a key opinion leader in the sleep diagnostic market in France, a $300K grant to provide a new generation of advanced sleep diagnostics
- Compumedics continues to build its business in European with the appointment of a new sales representative for the Germany neurology devices market
Compumedics Limited (ASX: CMP) is pleased to announce it has secured, in association with a key opinion leader in sleep diagnostics in France, a EUR 200K grant to develop features specific to the French sleep diagnostic market. In France, sleep diagnostics is estimated to have annual sales in the order of EUR 30 million and it is a key growth opportunity for Compumedics. For the past three years, the Company has had a permanent sales representative in France. By establishing new business relationships and alliances, as well as receiving government grants, Compumedics is well placed to strengthen its business and reputation in France.
Compumedics is also pleased to announce it has appointed a new sales representative in Germany to focus specifically on the Company’s Neuro-diagnostic product offering, including long-term epilepsy monitoring (LTEM). The German market for Neuro-diagnostic products is estimated at EUR 100 million annually and provides another unique opportunity for the Company to grow over the coming year.
In commenting on these activities in Europe, Dr. David Burton, Chairman and CEO of Compumedics said:
“After a lengthy period where the Company has been largely focused on securing the funding needed to ship all its orders, now in process, I am pleased to announce these new milestone achievements which will underpin new opportunities for growth.
“The European medical devices markets remain viable opportunities for growth, despite the economic conditions there and particularly with the recent favourable movements in exchange rates. Germany and France are some of the biggest individual markets in Europe, and they continue to offer significant upside for growth for the Company. As such, achieving these milestones are concrete steps forward in delivering on this growth opportunity.”