Compumedics Limited (ASX:CMP) has further strengthened its Asian footprint with a A$1 million three-year sleep diagnostic and monitoring systems contract in China.
The deal with long-term Shanghai-based distribution partner ZhiNuo will results in deployment of Compumedics technology across provinces in and around the coastal financial centre.
The contract complements Compumedics’ neurological diagnostics contract in other Chinese provinces and represents a continuation of an Asian expansion strategy which most recently included a $2 million South Korean distribution contract.
The Chinese contract locks in at least 10% growth per annum over the three-year period and cements Compumedics as the premier supplier of sleep diagnostic and neurological research systems in China.
Expansion progress in this difficult but fast-growing and relatively untapped market has positioned the company well to capture upside in its core technologies.
Compumedics also gained traction in Australia this month, with a $600,000 order to fit out the neurology department at the new Perth Children’s Hospital.
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