This time around there is NO trading halt ( unlike the previous attempt with the JV proposal from May/2018 which is highlighted below) and the Somfit* work in progress is Not a price-sensitive announcement but rather a more balanced reflection on the realities of a long process of research and due diligence into the utility and benefits of Somfit* required by the potential clients.
This time It feels more mature and probably after a few years of further improvements in the device we are better equipped to slowly close on deals and generate income
As always time will tell.
The Old announcement from : Thursday 31 May 2018
Compumedics Signs Major Strategic Partnership Deal with Chinabased Health 100 for Somfit Sleep Technology
• Compumedics to enter Joint Venture with Health 100 – a leading China-based premium health-check organisation • Framework Agreement signed with 90 days to execute Proposed Joint Venture (PJV) and associated Agreements • Compumedics to receive A$11.3m (US$8.45m) pre-tax payment: A$8.0m (US$6.0m) will go to Compumedics for the Somfit product platform and intellectual property rights for the Greater China region, and A$3.3m (US$2.45m) will remain in the PJV • Health 100 will purchase 1 million Somfit devices from the PJV over two years, from when the Somfit device achieves China Food and Drug Administration (CFDA) approval • Anticipated revenue from Health 100 purchase agreement to the PJV of at least A$133m (US$100m) over first two years
CMP Price at posting:
25.5¢ Sentiment: None Disclosure: Held
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(20min delay)