Posted on January 4, 2001

Compumedics Ltd (ASX: CMP) is delighted to announce that the USA Food and Drug Administration has granted market clearance for Compumedics’ pioneering Siesta system.

The wireless Siesta System is the world’s first truly portable multi-purpose patient monitor. The implementation of multi-function monitoring capabilities in a portable wireless device is a breakthrough that will revolutionise the way medical patients are monitored.

Compumedics is a global leader in the development and export of medical diagnostic and monitoring devices, with a core focus on sleep disorders. Sleep disorders is a field of growing medical recognition, estimated to be worth US$287 million in 2001, growing to US$365 million by 2005.

The Siesta System is the first of a family of products, which will provide enormous benefits for patients that require permanent monitoring, such as epileptics and patients with heart problems.

The portable wireless device can monitor and capture up to 32 inputs from a patient. The devices enable data capture and storage on either flash RAM cards or remote storage devices. In addition, devices such as the Siesta will enable remote monitoring of patients via radio LANs.

The cost and convenience benefits of Compumedics’ advanced portable wireless monitoring technology are substantial. Each hospital bed can be used as a virtual sleep clinic or monitoring bed without the necessity of incurring costly expenditures on capital works.

The market clearance from the FDA has opened up a massive market for sleep disorder equipment, allowing Compumedics to further develop its export operations to the USA. It is currently the fastest growing supplier sleep monitoring and analysis equipment in the USA.

Compumedics listed strongly on the ASX on 22 December last year. Despite a falling share market, it opened at a 20 per cent premium on their 50-cent issue price. It is currently trading at 93 cents, giving it a market capitalisation of approximately $130 million.