$700K CONFIRMED ORDER STRENGTHENS COMPUMEDICS’ GROWTH INTO CHINA AND STRATEGIC MEG APPOINTMENT
Compumedics is pleased to present further information about our exciting CURRY MEG product.
- DWL, Compumedics’ Germany-based business, receives an additional AUD 700K (EUR 0.415 million) sales order from its long-term distributor in China.
- Sales order confirms ongoing growth rate for DWL’s business in China of more than 15% pa, over the past three years and re-enforces Compumedics’ strategy to expand its core business in major global medical device markets.
- Compumedics appoints Mr. Steve Otto in a Business Development role to secure initial MEG sales.
Compumedics Limited (ASX: CMP) (“Compumedics” and “Company”) is pleased to announce that its Germany-based business, DWL, has received new orders totaling AUD 700K (EUR0.415m), for the Company’s world class diagnostic ultrasound precuts for brain blood flow monitoring, from its long-term distributor in China. DWL’s sales order confirms the on-going importance of the China market to the Compumedics Group with DWL having grown its business in China by more than 15% pa over the past three-year period.
In commenting on Compumedics’ market growth in China, Dr David Burton, Chairman and CEO of Compumedics, said:
“Compumedics has a significant presence in China and has spent more than a decade with our Chinese partners, building a foundation for future growth in one of the world’s most challenging but highest growth markets.
“Compumedics is now the number one supplier of premium sleep diagnostic and neurological research systems in China and is carving out a similar position in TCD systems.
“As a result, Compumedics is well positioned to capture growth, across all the medical products it sells into the China market.”
Compumedics is also pleased to announce the engagement of Mr Steve Otto to expedite the commercialisation of the Company’s new CURRY® MEG technology.
Mr. Otto was previously Chairman and COO of Elekta Neuromag, the dominant supplier to the existing MEG world market.
CURRY® MEG technology is a combination of Compumedics’ existing world leading CURRY® brain analysis software and the Korean Research Institute of Standards and Science’s (KRISS) highly innovative and superior magnetoencephalography (MEG) hardware.
CURRY® MEG is a major strategic initiative for Compumedics, which has the potential to add incremental revenues of $10m pa or more, within the next 24 months.
Compumedics recently announced it had secured a worldwide license from KRISS to exploit KRISS’ intellectual property rights to this hardware.
In commenting on Mr Otto’s appointment, Dr David Burton, Chairman and CEO of Compumedics, said:
“The Company is pleased that Mr Otto joins us at this time, as we not only see a significant opportunity for MEG around the world, but see China as a very large emerging market for MEG specifically.
“Mr. Otto’s knowledge and significant experience with MEG will assist the Company to move ahead at a fast pace with its commercialisation plans in order to meet this emerging market.”
About Compumedics DWL
DWL Elektronische GmbH was founded in 1992 and acquired by Compumedics in 2004. Today it is led by Mr. Christoph Witte, Executive Director and Chief Executive Officer, a member of founding employees and the original design engineer team.
Compumedics Germany GmbH (DWL Division of Compumedics Limited) develops highly sophisticated ultrasound Doppler systems which offer new ways to investigate the human brain. The deployment of advanced DWL monitoring devices enables blood vessels to be diagnosed and treated reliably with precision and efficiency.
Currently, 8,000 DWL® systems installed in more than 120 countries reliably undertaking crucial measures every single day of the week – evidence of the trust that experts in many different specialist fields place in DWL® Doppler systems.
DLW is a Transcranial Doppler sonography (TCD) market leader with 35% market share of this highly specialised medical technology sector. DWL joined Germany’s high-technology elite with the prestigious award by the German Government of membership in 2008 of Germany’s top 100 innovative companies. DWL systems have been deployed in a number of the most demanding ultrasonic blood flow projects including distinguished research projects under water, in the Andes, in the Himalayas and also the selection for the Russian Mir Space Station project.