COMPUMEDICS SIGNS NEW $3.6 MILLION DISTRIBUTION AGREEMENT IN JAPAN
• Fukuda Denshi Co., Ltd becomes Compumedics’ new neuro diagnostic and monitoring distributor in Japan
• Minimum commitment under the agreement is for A$3.6 million (US$2.7m) over the next three years
• Deal further underpins Compumedics’ on-going growth in Asia and opens a new market for Compumedics existing product range – neuro-diagnostic and monitoring products – in Japan
Compumedics Limited (ASX: CMP) (“Compumedics” or “Company”) is pleased to announce that it has negotiated a new three-year distribution agreement with one of Japan’s leading medical device companies, Fukuda Denshi Co., Ltd (“Fukuda”).
The minimum commitment under the agreement is approximately A$3.6 million (US$2.7m) for Compumedics’ complete range of neuro-diagnostic and monitoring systems.
This new relationship with Fukuda is complementary and incremental to Compumedics’ current arrangements in Japan.
This Japanese distribution deal follows an announcement on 1 May 2018 that Compumedics’ Germany-based business DWL , had received a new A$2.9 million sales commitment, for the next twelve months, from its long-term distributor in China. It also follows an announcement on Friday, 25 May 2018 that Compumedics has renewed distribution arrangements with three key and long-term distributors for its sleep and neuro-diagnostic and monitoring products in China, worth A$15 million over the next three years in minimum commitments.
All three announcements demonstrate the ongoing importance, strength and growth of the Compumedics business in Asia. The Company’s growth has averaged approximately 20% per annum, in China alone, over the last five years. Further, Compumedics has installed, in China, over 2,000 systems in more than 600 hospitals in addition to more than 333 universities.
Dr David Burton, Chairman and CEO of Compumedics, said:
“The new relationship with Fukuda for the distribution of Compumedics’ range of neuro-diagnostic and monitoring systems in the Japanese market, is an important milestone for Compumedics because it will expand and strengthen our core global business. Japan is one of the world’s largest and most challenging medical development export markets, making this agreement of key importance to Compumedics.”
“Fukuda is one of Japan’s most distinguished medical device organisations with a legacy built on decades of developing and suppling leading medical systems across the world. Mr Takashi Fukuda founded the company over 70 years ago, with a focus on improving patient-centric medical technology to enhance patient care. The company has values that are highly compatible with Compumedics’ values.”
“We are honoured to have been chosen by Fukuda. We look forward to closely engaging for long-term mutual co-operation, to support Fukuda and Japanese customers with leading technology and quality medical systems, complemented with the highest standards of customer care and support.”
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.
About Fukuda Denshi Co., Ltd
Fukuda began by developing the first Japanese-made electrocardiograph, a neuro-diagnostic and monitoring system. Ever since their establishment in 1939, Fukuda’s mission has been to help society by developing medical electronic devices that contribute to the advancement of medicine.
Fukuda now provides products and services to cover every step, from prevention and testing to treatment and home medical care and is playing an important role in a wide range of medical settings. Fukuda Denshi’s innovative technologies always have a strong impact around the world with their Electrocardiographs, Patient Monitoring Systems, and other medical engineering devices. Fukuda’s world-class technologies are delivered to people around the globe as part of their goal to provide the best healthcare service.
Fukuda’s annual revenues are approximately AUD1,580m, with profitability at AUD150m. Fukuda is listed on the Tokyo Stock Exchange with a market capitalisation of approximately AUD1.9bn.
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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