Compumedics Limited (ASX:CMP) has secured a $2 million three-year contract with long-term distribution partner Kwangwon for distribution of its Neuroscan Brain Research and neurology systems in South Korea.
This has locked in 10% growth per annum over the contract period and reinforces the strategy of expanding its core business in major global medical device markets.
The deal also provides scope for it to expand and introduce its eHealthMedics professional cloud-based sleep diagnostic services model into the Korean market.
Compumedics is well positioned to capture growth in brain research, sleep diagnostics and neurological monitoring in Asia.
Earlier this month, it received a $600,000 contract to fit out the neurology department at the new Perth Children’s Hospital that is currently under construction.
The company reported revenue s of $33.5 million in the year ended 30th June 2015, up 9% from the previous year.
Net profit doubled to $2 million while EBITDA increased to $4.1 million from $3 million.
Cash at hand was $2.2 million as at 30th June 2015.
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