RESIGNATION OF DIRECTOR
Compumedics wish to advise that Mr Bruce Rathie has tendered his resignation, effective 31 December 2006, as a director of Compumedics Limited.
Melbourne Australia: Friday, December 22, 2006
Medical diagnostics company Compumedics Limited (ASX: CMP) wish to advise that Mr Bruce Rathie has tendered his resignation, effective 31 December 2006, as a director of Compumedics Limited. We wish to thank him for his contribution to the Company since 2004 while he has held this role.
Mr Rathie is appropriately resigning as a consequence of increased activities outside of the Company associated with new and increased responsibilities for him in the same sector.
Mr Rathie will be replaced by Mr Anderson as Chairman of the Audit Committee.
The Company is currently evaluating its strategic and structural needs with regard to the future Board composition and a decision regarding Mr Rathie’s replacement will be made in due course.
For further information:
Executive Chairman, CEO
Phone: +61 3 8420 7300
Fax: +61 3 8420 7399
Phone: +0011 1 915 225 0319
Fax: +0011 1 915 845 2965
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 12,000 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.
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 (2005), reflecting its continued commitment to an effective sales and R&D organisation.