COMPUMEDICS WINS AVCAL AWARD FOR BEST EARLY STAGE INVESTMENT
The Australian Venture Capital Association Limited (AVCAL) announced at its Annual Conference and Awards Dinner that Melbourne based medical monitoring and diagnostic company Compumedics Limited was the winner of the Award for Best Early Stage Investment for 2000/2001.
AVCAL award logoThe Australian Venture Capital Association Limited (AVCAL) announced on Friday, 12 October, 2001 at its Annual Conference and Awards Dinner that Melbourne based medical monitoring and diagnostic company Compumedics Limited was the winner of the Award for Best Early Stage Investment for 2000/2001.
Compumedics Limited received $2 million in venture capital funding from JAFCO Investment (Asia Pacific) Ltd (JAFCO) in September 1996.
Mr David Burton, Executive Chairman of Compumedics Limited commented:
“We at Compumedics Limited are very excited about receiving the Best Early Stage Investment Award from AVCAL.
Building a global medical technological company is a journey, one that potentially has many u-turns and dead ends. We have been fortunate to have JAFCO Investment as our partner over the last five years to assist us in navigating our way through the numerous obstacles that we have faced.
Compumedics has faced many challenges over the last thirteen years but none greater than the IPO process we undertook in 2000. As is typical of Compumedics’ style, we set ourselves an ambitious target of floating the company in a short timeframe in what was a difficult IPO market. During the whole process, JAFCO Investment was with us, either driving the beauty parade for the brokers, drafting the prospectus or assisting with the investor roadshows.”
Mr John Dyson, General Manager (Australia) of JAFCO Investment (Asia Pacific) Ltd and member of the Board of Compumedics Limited commented:
“We are delighted that Compumedics has won this Award as it is further acknowledgment of the great efforts of David Burton and his management team in building the Company.
We have been excited to be part of the growth of the Company over the last five years and remain enthusiastic about the prospects and opportunities for the Company for the future.”
The announcement of Compumedics winning an AVCAL award follows the outstanding year-end performance as a first year public company, and the exceeding of prospectus financial results expectations.
Compumedics finished the 2001 financial year in a very strong position, building on the performance achieved during the Company’s first half year.
The Company’s revenue reached a record $18.3m (million) – 11.6% above the prospectus forecast of $16.4m, and an increase of 76% on the previous year.
Net profit after tax (NPAT) was a record $2.0m – exceeding the prospectus forecast of $1.9m and an increase of $2.1m on the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) was $3.7m – 12% above the prospectus forecast of $3.3m and a substantial increase on the previous year.