COMPUMEDICS WINS €1 MILLION CONTRACT IN CHINA
Compumedics’ German brain ultrasonography division expands Chinese market presence
MELBOURNE, 23 Dec., 2010 — Compumedics Limited (ASX: CMP) is pleased to announce the Company’s Germany-based brain blood-flow ultrasonography division, Compumedics Germany GmbH (DWL), has entered into a €1 million (approx AUD1.25 million) agreement with Beijing Beike Digital Medical Technology (Beike) for the purchase of DWL® products in 2011. This milestone for Compumedics Germany underpins the Compumedics Group of companies’ growing presence in China.
Beike, a Chinese neurology company with over 20 years experience, and Compumedics Germany have collaborated for over 10 years to develop the Chinese brain blood-flow ultrasonography market. The collaboration has included participation at specialised events, congresses and adapting Compumedics’ DWL® product offerings to suit the local requirements of the Chinese market.
Mr Christoph Witte, General Managing Director Compumedics Germany said,
Compumedics’ continued investment through events, training and support of our skilled and committed Chinese partner, Beike, and their customers has paid off – not only with increased sales but, today with a major market share for brain blood-flow ultrasonography of over 60% in China. As China continues to develop and grow, we expect solid growth in the coming years.”
Since the acquisition of the former DWL Elektronische Systeme GmbH in 2004, Compumedics Germany’s sales in China have experienced growth of over 150%. Compumedics Germany’s DWL® products are installed in major hospitals across China and are used by experts in the field of transcranial Doppler (TCD) ultrasonography, the prominent technology for measuring brain blood-flow velocities, including Professor Gao Shan at Beijing Xiehe Hospital, and Professor Hua Yang at Beijing Xuanhu Hospital.
In July 2010, Mr Witte was a speaker of excellence at the Traditional TCD Congress in Beijing, chaired by Professors Hua Yang and Gao Shan.
Mr. Witte added,
“Working with a strong and reputable partner like Beike in a dynamic country inspires us to enter the next level of medical technology supply for the whole of China. That’s exactly what Compumedics Germany stands for: ‘innovations for people’!”
In 2008, Compumedics Germany was recognised by the German government for its innovation excellence, joining Germany’s high-technology élite with the award of membership of Germany’s top 100 innovative SME companies.
Dr. David Burton, Chairman and Chief Executive Officer of Compumedics Group commented,
“The contract with Beike demonstrates promising progress in the growing and increasingly important China export market. In particular, Compumedics’ regional Asia-Pacific base and our well established history as a supplier of premier brain and sleep-monitoring systems for the Chinese market, positions us well as we continue to focus on growing our business within this important and exciting market.”
Compumedics Limited, was founded in 1987 by current Chairman/CEO Dr. David Burton and today 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 computerized 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, with over 8,000 participants scheduled by 2008. With headquarters in Melbourne, Australia and offices in the United States, and Europe its products are distributed in over 50 countries.
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 holds around 90% of the market for brain-research products.
In 2003 Compumedics was awarded the Frost & Sullivan Award for Market Expansion Strategy.
In 2004, Compumedics acquired Germany-basedDWL Elektronishe GmbH, enabling Compumedics to expand its global operations into the neurovascular and cardio-vascular diagnostic fields.
In 2006, Compumedics was awarded the Frost and Sullivan Technology Leadership award for its innovative Somté® recorder product.
In 2007, Compumedics and its Chairman were inducted into the Victorian Manufacturing Hall of Fame.
In 2008 the DWL division received a top 100 German Innovation award. With 20,000 systems installed globally across the finest hospital, universities and clinics Compumedics sales have grown more than 4-fold from $9 million (1999) to $39 million (2008).
In 2009 Compumedics was awarded a design award for its GRAEL® PSG/EEG premium laboratory-based product.
In 2010 Compumedics was recognized by the Australian Innovation Government and Industry body as one of Australia’s Top 100 Health Innovators through its’ world leading devices for sleep diagnostics..
For further background please visit: http://www.compumedics.com
For further information please contact:
Dr. David Burton
Mr. Rod North
T: 03 9510 8309
M: 0408 670 706
Investors: ASX.CMP (www.ASX.COM)