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Compumedics Limited ( (AU:CMP) ) has provided an announcement.
Compumedics Limited has secured a new 5-year contract with Philips Australia to supply its Somfit device for pharmacy-based sleep testing, reinforcing its position as a leader in this fast-growing segment of the Australian market. The contract is expected to generate approximately $3 million in SaaS revenue, with Compumedics focusing on expanding its presence in the USA and other key markets. With the potential for Medicare reimbursement for certain studies in Australia and expanding sales in the USA, Compumedics is well-positioned for growth in the sleep diagnostic industry.
More about Compumedics Limited
Compumedics Limited is a global medical device company that develops, manufactures, and commercializes diagnostic technology for applications in sleep, brain, and ultrasonic blood flow monitoring. Founded in 1987 by Dr. David Burton, the company has expanded its reach internationally, with a presence in the Americas, Australia, the Asia Pacific, Europe, and the Middle East. It also owns subsidiaries Neuroscan in the United States and DWL Elektronishe GmbH in Germany.
YTD Price Performance: 18.87%
Average Trading Volume: 50,088
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$60.55M
For a thorough assessment of CMP stock, go to TipRanks’ Stock Analysis page.
