Compumedics in US market breakthrough

Medical technology group, Compumedics (ASX: CMP), has won a major new contract in the United States for its world-leading computerised medical monitoring systems.

The company, which develops and manufactures a range of medical devices and systems for sleep, brain and ultrasonic blood flow monitoring, installed Australia’s first computerised sleep clinic in 1987.

Now it has been qualified as a vendor and consumables supplier by US-healthcare provider, Adventist Health Systems, which operates 48 hospital campuses employing 80,000 health professionals.

An initial $1.4 million order is from an Adventist hospital in Tampa, Florida for its neurological monitoring system, based on its Grael product range.

The order of 19 epilepsy-monitoring systems has been delivered and installed, and includes Compumedics new cloud-based Nexus360 diagnostic platform.

Executive chairman, David Burton said the Master agreement covered all the company’s product range.

Burton said: “Compumedics was able to achieve this win against robust local and international competition in the US.

“Now the systems are installed this will be a significant reference site and network for the company in the critical US market.”

He said the company was confident the order to one of the largest epilepsy hospitals would be the first of many similar sales.

“Compumedics will look to continue to expand its range of sleep and neurological diagnostic monitoring business in this market as a result of this order.”

The winner of numerous awards, including Australian exporter of the year, Compumedics owns Germany’s DWL Elektronishe GmH and US-based Neuroscan.

The company’s customers are a who’s who of global health leaders such as the Mayo Clinic, and its products are market leaders in sleep markets in Australia, Japan and China.

In its latest half year to December 31, the company booked a net profit of $811,000 on revenues up 16 per cent to $18.7 million. EBITDA was $1.3 million.

Compumedics shares have risen from around 0.35 cents in February to 0.45 cents.

Picture: Compumedics PSG interface

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