ENTREPRENEUR AWARD RECOGNISES COMPUMEDICS’ THRIVING INNOVATION
Compumedics Chairman, CEO David Burton was honoured as one of Victoria’s most talented entrepreneurs,winning the Entrepreneur Of the Year for Technology, Communications, E-commerce and Life Sciences, Southern Region Australia. The award recognised and rewarded the outstanding business achievements of David Burton of Compumedics Limited.
Compumedics Chairman, CEO David Burton was honoured as one of Victoria’s most talented entrepreneurs,winning the Entrepreneur Of the Year for Technology, Communications, E-commerce and Life Sciences, Southern Region Australia.
The award recognised and rewarded the outstanding business achievements of David Burton of Compumedics Limited.
Mr Garry Hounsell, Ernst & Young Executive Partner, Melbourne said, “The level of innovation displayed by entrepreneurs here in Victoria is second to none. Many of this year’s winners have taken a unique and innovative approach to an existing market or product and made it their own. One can’t help but be inspired by this outstanding group of talented individuals who have displayed such vision, determination and leadership.”
David Burton founded Compumedics – a developer and manufacturer of diagnostic products for sleep disorders, cardiac applications and neurophysiology – in 1987 after a chance visit to his local doctor. Establishing the company without any external investment, Compumedics now claims more than 70 per cent of the Australian sleep diagnostic market, 11 per cent of the US market and the majority of the world market for brain research instruments through its acquisition of US company Neuroscan. Last night David was awarded the Technology, Communication and E-Commerce and Life Sciences award.
Brian Schwartz, CEO of Earnst & Young Australia, stated that “Fifty-four per cent of the Nasdaq 100 were recognised by the Entrepreneur of the Year program before they made the big time.”
A panel of independent judges comprising leading figures from Victoria’s business community selected the winners on criteria including growth in turnover, profit and employee numbers along with factors such as the degree of innovation, development of creative and ingenious production, marketing and selling techniques and the expansion into national and international markets.
Today Compumedics’ sales are in excess of $30 million, compared to $5 million in 1987, representing a 500 % increase in factory output, and being 90% export business. Compumedics (CMP) was listed on the ASX in 2000, and has been awarded 24 awards for design, innovation, business and exports including the Australian Exporter of the Year in 1998 and Small Business of the Year in 1999.
Mr Burton said “ This year, as we will soon announce, we have achieved record sales despite a war and SARS. We are at the beginning of the Compumedics business story, after 20 years of predominantly technology research and development focus. 50% of congestive heart failure sufferers, 70% of first stroke sufferers also suffer sleep disorders and our equipment is uniquely positioned to supply the rapidly growing world demand for these products.”
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About David Burton
David Burton founded multi-award winning company Compumedics in 1987 after a chance visit to his local doctor, Murray Johns. By applying David’s electronics and computer knowledge, the two worked together to bring the diagnosis of sleep disorders into the digital and computer age. David developed the company without external investment until 1996. In 2000, Compumedics listed on the Australian Stock Exchange and today it develops, manufactures and markets a complete range of diagnostic products for sleep disorders, neurophysiology and cardiac applications. Eighty percent of revenue now comes from exports.
Compumedics has more than 70 percent of Australia’s sleep diagnostic market, and more than 11 percent of United States sleep diagnostic market. It also holds the majority of the world market for brain research instruments through its acquisition of United States company Neuroscan. David has recently won the Clunies Ross Science and Technology award (2002) and the Centenary Medal in 2003 for outstanding service to science and technology, particularly public science policy.
Compumedics Limited, founded in 1987, is a global leader in the design and manufacturing of diagnostic technology for sleep disorders, neurophysiology and cardiology. Compumedics was listed on the Australian Stock Exchange in December 2000. With corporate headquarters in Melbourne, Australia and offices in the United States, Asia, and Europe, Compumedics holds 70% of the Australian sleep diagnostic market and is fast becoming a major presence in the US and other international marketplaces for both its sleep diagnostic and its neuro-diagnostic products.