29/07/2002 10:07:42 Letter of Intent signed with Drager Medical
COMPUMEDICS LIMITED 2002-07-29 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ Compumedics Ltd (ASX:CMP) headquartered in Melbourne, Australia, and Pre & Post Hospital Care, a division of Drager Medical AG & Co KGaA, headquartered in Luebeck, Germany, have signed a letter of intent for the supply and development of sleep diagnostic technology.
Compumedics expects to realize an additional sales revenue of approximately AUD$ one million (approx E0.55 million) in the initial 12-month contract period. Drager Medical will have exclusive sales and marketing rights in Germany for Compumedics' Somte(TM) cardio-respiratory monitoring units and non-exclusive rights in France and Benelux. Both parties have also confirmed their intention to cooperate on a broader technological and strategic basis.
The Somte(TM) system is a first of its kind - a lightweight medical recorder that combines features of diagnostic sleep systems and cardiac holter recorders. The very small (200 gram) device can be used by a patient at home to provide information for early detection of cardiac dysfunction. Somte(TM) was released to the European market only three months ago after receiving the required European Union CE regulatory approval.
Compumedics Executive Chairman, David Burton said, "To have a partner of the international standing of Drager Medical is a significant boost for Compumedics. The relationship will not only provide ready access to an important part of the European sleep diagnostics market, but also give us a technology partner without peer to work with on the commercialization of new products."
The link is important for Compumedics' revamped international distribution strategy. "We are now able to work with world class companies such as Drager Medical to take Compumedics' sleep technology to European customers," David Burton added.
Dr M Thijs A Teeling, General Manager, Pre & Post Hospital Care, Drager Medical said, "The portable Somte(TM) diagnostic system is ideally suited for the home health care sector, which has become a major area of focus for our business. We are a leader in state-of-the-art medical technologies, so adding the supply of sleep diagnostic technology to our current product portfolio was a natural fit. Finally, we look forward to working with Compumedics to develop other products for the European markets."
The diagnosis and treatment of sleep disorders is a rapidly growing field of medicine worldwide. In the United States alone, there are already 2400 specialist sleep treatment centres, with the market growing at over 10% per annum.
PRESS CONTACT:
Compumedics: David Burton EXECUTIVE CHAIRMAN, CEO Phone: +61 3 8413 7300 Fax: +61 3 8413 7399 [email protected]
For more information, please visit: www.compumedics.com.au
ABOUT DRAGER MEDICAL
Drager Medical AG & Co KGaA is one of the world's leading manufacturers of medical equipment. As the largest division of Dragerwerk AG, Drager Medical offers integrated systems and services throughout the entire patient care process in clinical acute care and the home care sector. Drager Medical employs approximately 4,800 people worldwide and is represented in over 100 countries. Over the past six years, the company continually boosted its sales by more than 10% a year, reaching a total of 805 million Euro in fiscal 2001. In the same period, the company quadrupled its EBIT from 9.1 million Euro to 39.0 million Euro. The innovative concepts of Drager Medical are the result of close dialogue with customers, years of experience in the market, and significant investment in R&D. The company's goal is to improve the quality of patient care while supporting cost reduction in the health care sector. For more information, please visit: www.draeger.com.
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