COMPUMEDICS GETS BOOST IN CHINA WITH KEY $2.0M CONTRACTS
- Key growth focus on Emerging Markets
- Compumedics continues to expand its Chinese market presence, booking a further $1.5m (USD1.4m) order for sleep diagnostic and neurological equipment from its long-term distributor in China, Beijing Bestmed. A further $0.5m (EUR0.3m) order for trans cranial Doppler equipment from Bieke, DWL’s long-term distributor in China, has also been booked.
- Compumedics Group sales to China for FY2014 were 25% higher than the prior corresponding half-year. Sales growth will be maintained in the second half of the year.
- Compumedics has, over a 20-year period, become a major supplier of China sleep diagnostic, neurology and ultrasonic Doppler blood-flow monitoring systems, with an unsurpassed array of key-opinion-leader reference-centers now established with Compumedics installations across China and Hong Kong.
Compumedics Limited (ASX: CMP) is pleased to announce that its long-term distributor in China, Beijing Bestmed, has placed new orders totaling approximately $1.5 million (≈USD1.4 million) for the purchase of sleep diagnostic and neurological equipment.
As a result of its successful and long-established partnerships in China, Compumedics has grown sales, and continues to accelerate growth in this critical emerging market. This contract is a result of the strong relationship between Compumedics and Beijing Bestmed and follows last year’s decision by Bestmed to take a 3% stake in Compumedics’ equity.
Compumedics remains focused on growing the Group through:
· Expansion of sales of the Company’s existing products into emerging markets particularly China; and
· Continuing the initial penetration of the neuro-diagnostic market, particularly the US, with Compumedics range of neuro-diagnostic products, including the Neuvo® LTEM (long-term EEG-monitoring) system
In commenting on the further boost to Compumedics’ China business, Dr. David Burton, Chairman and CEO, said:
“We have spent many years in China with our Chinese partners, building a very targeted and selective base. As a result, Compumedics well positioned to capture the growth that comes from an increasing awareness in China of the impact of poor sleep and the desire to be diagnosed and treated.
“In 2012 the China Daily noted that more than 40% of the Chinese population suffered from some form of sleep disorder, with less than 1% of those people having been diagnosed or treated. More recent data claims that the cultural tendency to work hard in China and view 9 hours sleep as a sign of laziness will only lead to an increasing incidence of sleep disorders in China.”
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 Americas; Australia and Asia Pacific; and 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 and accolades including Australia’s exporter of the year and has been recognised as a Top 100 Innovatorby the both German and Australian Governments.