Record Ultrasound Contracts in Germany
Melbourne, July 8, 2015 AEST (ABN Newswire) - Compumedics Limited (
ASX:CMP) is pleased to announce that the Company's Germany-based brain blood-flow Doppler ultrasonography division, Compumedics Germany GmbH (or DWL), has secured a tranche of deals totalling AU$5 million (Euro 3.7 million) over 3 years to supply its TCD systems to the German market. Dr Burton (Compumedics' Executive Chairman/CEO) highlighted the importance and stimulatory impact such government trade mission initiatives can have in terms of economic, business and trade confidence with principal trade partners such as Germany.
Highlights:
- Commonwealth Finance Minister Hon. Mathias Cormann launches German trade mission and joins Compumedics at announcement of record German Compumedics/DWL trade deal
- New contracts solidify pathway towards strategic realisation to unlock significant value for Compumedics shareholders
- DWL is the global leader in transcranial Doppler (TCD) ultrasound diagnostics systems for brain scanning
- Short term growth opportunities in 3D Transcranial Colour Doppler (TCCD)/Duplex Imaging coupled with medium term growth opportunities in Traumatic Brain Injury and Stroke market
- Strategic realisation will enable DWL's transition from current physiological TCD measurement market of US$30m for 3D Transcranial Colour Doppler to the brain imaging market of US$900m
Following today's announcement Compumedics/DWL has committed further investment into the German region and expects to significantly expand trade across all products sectors, including clinical sleep, neurology and research neurology sectors of its business.
The deal was announced as part of a targeted programme jointly coordinated by the German-Australian Chamber of Industry and Commerce, and the Australian Trade Commission, headed by Australian Minister for Finance, Hon. Mr. Mathias Cormann, and his excellency Mr David Richie, AO, Australian Ambassador to Germany. The business mission is aimed at enhancing economic engagement and boosting trade and investment between Australia and Germany. With a legacy of shipping over AU$500m of brain, sleep, and neurology research instrumentation world-wide, Compumedics considers Germany as one of the prime export markets and plans to substantially expand its German base and market presence during the year ahead.
The deal comprises AU$5m for DWL's traditional ultrasound Doppler blood-flow instrumentation and solidifies DWL's position in the German market, which is one of the world's largest markets for TCD diagnostic systems.
Importantly, the new deal enhances the Company's European market presence at an important time when Compumedics/DWL has been investigating unlocking the value of a new range of advanced and newly patented technologies, capable of accelerating the Company's growth into enormous and virtually untapped markets including stroke, traumatic brain injury, and the investigation of other brain disease and disorders. Whilst these markets exceed a billion dollars per annum, they have been largely inaccessible due to the traditional complexity and difficulty in deploying ambulatory TCD systems. Shortterm revenue increases are anticipated by way of the upcoming release of a range of products, incorporating an advanced array of vivid colour 3-dimensional (3D) graphic imaging capable of vivid diagnosis using 3D (TCCD) imaging.
Mr. Christoph Witte, DWL GmbH Executive Director and Chief Executive Officer noted "This tranche of deals represents a minimum of $5m for DWL's core Transcranial Ultrasound Doppler business but opens the way to an enormous market opportunity comprising of the new generation 3D-Transcranial Colour Doppler and Duplex devices as well as new market fields like Traumatic Brain Injury (TBI) and general stroke treatment with incremental $5m business over the next three years"
Dr. David Burton, Compumedics Limited CEO/Executive Chairman, stated, "We are proud to announce today, as part of Australian Federal Finance Minister Mathias Cormann's German trade mission, a record deal for Compumedics. DWL is world renowned for developing the world's leading ultrasonic Doppler blood-flow systems for brain vascular measures. This is a rapidly growing area of diagnostic monitoring which is particularly relevant to the need for more accurate and portable monitoring. These monitors are capable of early detection of brain injury associated with concussion from various activities like sports, road accidents, and incidents amongst defence department personnel, world-wide."
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 Innovator by both German and Australian Governments.
Follow Compumedics on Twitter at @Compumedics
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