KEY DISTRIBUTION AGREEMENT: COMPUMEDICS EXPANDS EUROPEAN PRESENCE
Compumedics Limited (ASX: CMP), has completed an agreement with MPV Truma, a German company, for the distribution of Compumedics’ core sleep-diagnostics products in Germany.
Melbourne Australia, Thursday, June 7, 2007
Leading Australia-based medical diagnostics company, Compumedics Limited (ASX: CMP), has completed an agreement with MPV Truma, a German company, for the distribution of Compumedics’ core sleep-diagnostics products in Germany.
MPV Truma will add Compumedics’ award-winning Somté®, Somnea, Siesta®, Safiro, E-Series, and Profusion PSG products to its suite of offerings in the German market. The agreement will provide Compumedics with a minimum of $3.8 million sales over three years of these products. An initial order has already been placed to exploit the German market potential.
MPV Truma Background
MPV Truma has been a successful distributor and manufacturer of medical products for over 10 years in Germany. Its product range is focussed on the respiratory care market, with a range of products including inhalation, ultrasonic nebulisation, sleep apnoea diagnosis and therapy, and home care ventilation. It has a history of working with a number of global medical-device partners. The company has a specialist sales force dedicated to the German market to service dealers, doctors, clinics and sleep laboratories.
Mr David Burton, CEO of Compumedics said,
“The current global sleep device market is a multi-billion dollar, high growth sector. A large proportion of the population, many of whom remain undiagnosed, suffer from sleep disorders such as sleep apnoea. The expansion of Compumedics’ distribution network in Germany is a further key example of Compumedics’ execution of its strategic plan to strengthen and scale up its core business. We are delighted to have the opportunity to work with MPV Truma as a strong, dynamic and talented team.
This relationship, combined with our recent agreement to exploit the German neurophysiological monitoring market, will generate contracted revenue of at least $7.5 million over three years.”
Executive Chairman, CEO
For Further information:
Mr David Burton
Executive Chairman, CEO
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399
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 14,000 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. In 2006, Compumedics was awarded the Frost and Sullivan Technology Leadership award for the innovative Somté recorder product.
In, 2007, Compumedics and Chairman were inducted into the Victorian Manufacturing Hall of Fame for their pursuit of excellence in manufacturing.
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 (2006), reflecting its continued commitment to an effective sales and R&D organisation.