COMPUMEDICS AND CHAIRMAN INDUCTED INTO VICTORIAN MANUFACTURING HALL OF FAME AND HONOUR ROLL
Minister for Industry and State Development inducted leading Australian-based medical diagnostics company Compumedics Limited (ASX:CMP) and Compumedics Executive Chairman, Mr. David Burton into the Victorian Manufacturing Hall of Fame and Honour Roll respectively for their pursuit of excellence in manufacturing.
To read the PDF as on the ASX as well as “The Age” newspaper coverage, click here (PDF)
Hall of Fame logoMelbourne, Australia – May 24, 2007 – The Honourable Theo Theophanous, Minister for Industry and State Development inducted leading Australian-based medical diagnostics company Compumedics Limited (ASX:CMP) and Compumedics Executive Chairman, Mr. David Burton into the Victorian Manufacturing Hall of Fame and Honour Roll respectively for their pursuit of excellence in manufacturing.
The Manufacturing Hall of Fame, established in 2000 by the Victorian Government, recognises, rewards and celebrates manufacturing companies that have won at least three manufacturing industry awards in the last five years, or have achieved recognition against significant competitive international standards for the last five years.
On receiving the accolade, Compumedics Executive Chairman, Mr. David Burton said in his acceptance speech:
“ In terms of Compumedics’ continued commitment to manufacturing and exports, we have manufactured and sold over two hundred million dollars worth of products since the Company was listed on the ASX about seven years ago. Eighty four percent of these sales have been exported to some of the most prestigious research and medical centres throughout the world. The Company has achieved average revenue growth of thirty percent per annum since listing. The average R&D investment level is about seventeen and a half percent of annual sales and represents a thirty-seven million dollars of investment since our listing and continues to drive our technology and exports.”
Compumedics commenced operations in 1987 and, in 2002, expanded to a purpose-built manufacturing facility in Abbotsford. Worldwide, there are about twelve thousand Compumedics monitoring systems installed, including about four thousand sleep – monitoring beds, four thousand Doppler blood flow monitoring systems, and about four thousand neurology systems.
Compumedics is today the only company that has world leading technology and/or a market position covering three of the key rapid growth new generation medical technologies first discovered in the 1980’s – Sleep, Transcranial Doppler Ultrasonography and Computerised Cognitive Neuroscience / EEG brain function. Compumedics serves the founding fathers of these medical disciplines such Professor Colin Sullivan, the inventor of CPAP and Dr. Rune Aaslid the developer of Transcranial Doppler Ultrasonography. Compumedics patient monitoring systems are the choice of the majority of prestigious medical and research centres across the world including: the Mayo Institute (USA), The Albert Einstein College of Medicine (USA), NASA (USA), The American National Institutes of Health (USA), Mannheim Institute (Germany), The Edinburgh Royal Infirmary (UK), The Austin Hospital (Australia) and the St. Vincent’s Hospital (Australia).
Compumedics holds an 80% share of the Australian sleep-diagnostic market, and has a major and rapidly growing presence in the US, European and Asian marketplaces for its diagnostic monitoring devices. In addition to this latest recognition, Compumedics was recently conferred the 2006 Frost and Sullivan Technology Leadership award for its innovative Somté recorder product. Other awards that Compumedics won include the 2001 Small to Medium Manufacturer Award, 2004 Fast 50 Award – Technology Leader sustaining Innovation and Growth, and 2004 Frost and Sullivan Award for Market Expansion Strategy 2004.
Compumedics Limited, founded in 1987, is a global leader in the design and manufacture of diagnostic technologies for sleep disorders, neurophysiology and cardiology. In 1987 Compumedics established Asia Pacific’s first fully computerised sleep laboratory. Compumedics holds 80% share of the Australian sleep-diagnostic market, and has a major and rapidly growing presence in the US, European and Asian marketplaces for its sleep, neurological, and Doppler blood-flow diagnostic monitoring devices.
In 1995 the company was selected to supply equipment to the US Sleep Heart Health Study, the world’s largest sleep study of its kind, currently exceeding 12,000 studies with 20,000 patients scheduled by 2008. The company has corporate headquarters in Melbourne, Australia and offices in the United States, Asia and Europe.
In 1998 Compumedics was awarded the overall Australian Exporter of the Year.
In 2000 Compumedics was listed on the Australian Stock Exchange.
In 2002, Compumedics acquired US-based Neuroscan – the world’s leading supplier of instruments for brain-research. In the US – the world’s largest medical device market – Neuroscan hold around 90% of the market for brain-research products.
This acquisition has enabled Compumedics to take advantage of the synergies between research and clinical-based Neuro Diagnostic technologies, re-affirming our commitment as a world-class developer of both sleep and neuro-diagnostic systems.
In 2003 Compumedics was awarded the Frost & Sullivan Award for Market Expansion Strategy.
In 2004, Compumedics acquired German-based DWL Elektronishe GmbH, enabling Compumedics to expand its global operations into the neurovascular and cardio-vascular diagnostic fields.
Compumedics has grown to become a global medical diagnostic company with world leadership in three of the most exciting high-growth sectors and some 12,000 systems installed Compumedics businesses now include their core and pioneering sleep-diagnostics (Sleep Division), Neuro-diagnostics (Neuroscan and Neuroscience Divisions), and non-invasive blood-flow diagnostics (DWL Division). All of these fields were pioneered or discovered in the 1980s, validated in the 1990s and are only now undergoing rapid commercialisation into the rapidly expanding $1 billion plus global market.
The company has increased its sales more than 4 fold from $9 million (1999) to $38 million (2005), reflecting its continued commitment to an effective sales and R&D organisation.