COMPUMEDICS RECEIVES $1.1M NEURO DIAGNOSTIC ORDER FROM CHINA
- New $1.1m (USD0.8m) sales order received from existing China-based distributor for neuro-diagnostic products
- Underpins Compumedics on-going growth in core products for China, now running at an average of 20% pa, for the last five years
- Compumedics has over 1,700 sleep and neuro diagnostic and monitoring systems installed in China at 535 hospitals and 333 universities, with seven of the top ten hospitals in China having Compumedics equipment
Compumedics Limited (ASX: CMP) (“Compumedics” or “Company”) is pleased to announce that it has received a $1.1m (USD0.8m) sales order from one of the Company’s long-standing distributors in China, for Compumedics world-class neuro diagnostic and monitoring systems.
This new sales order is for shipment during FY19.
This announcement together with those made in May of this year underpin Compumedics’ future growth in China, which has averaged approximately 20% pa over the last five years. This new sales order for Compumedics neuro diagnostic monitoring systems affirms our strategy to grow our neuro diagnostic business in China off of Compumedics’ dominant position in China, particularly in sleep diagnostics, brain research and DWL‘s Trans-cranial Doppler (TCD). More than 2,000 systems have been installed at more than 600 hospitals and more than 333 universities across China.
Dr David Burton, Chairman and CEO of Compumedics, said:
“The Company is pleased to receive this sales order from our respected Chinese distributors. These sales commitments not only generate important new revenue for Compumedics but also confirm the importance of the Chinese market for the Company.
“With more than two decades of experience in China, Compumedics has over recent years enjoyed the benefits of this strategic investment in sales, marketing, technology and development, with an average 20% per annum growth over the last five years and we expect that this growth should continue in the double digits over the foreseeable future.
“Compumedics has worked with its Chinese partners to build a foundation for future growth in one of the world’s most challenging and highest growth markets. As a result, the Company is well positioned to capture continued growth in sleep diagnostics, as well as expanding further into neurological monitoring, a relatively new and untapped market in China and other parts of Asia.
“We are proud that Compumedics’ systems are installed at seven of the top ten hospitals in China. We are the vendor of choice at many other leading hospitals in China. Compumedics will continue to use its position in China to not only grow these businesses’ but we will carve out a market position in neuro diagnostics over the coming years. Close to half of our new sales commitments are for the supply of neuro diagnostic and monitoring equipment into China.”
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 the Americas, Australia and Asia Pacific, 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, including Australia’s Exporter of the Year, and has been recognised as a Top 100 Innovator by both German and Australian governments.
For further information please contact:
Dr David Burton
Executive Chairman, CEO Executive Director
Ph: + 61 3 8420 7300
Fax: +61 3 8420 7399
Chief Financial Officer
Ph: + 61 3 8420 7300
Fax: +61 3 8420 7399
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