Compumedics’ Shares arrowed up on signing a supply agreement with US-based Adventist

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Compumedics Limited (ASX: CMP)  is a medical device company which manufactures, develops and commercialises technology in regard to the diagnosis monitoring applications for the sleep, brain and ultrasonic blood-flow. The company has global footprints with two subsidiaries located in US and German called Neuroscan and DWL Elektronishe GmbH, respectively.

The company today on March 21, 2019, announced that it had signed an agreement which states that it will be the supplier to, US-based, Adventist Health System. The company will supply its world-leading suite of sleep, neurological monitoring and brain research systems to 48 hospitals in Adventist’s network, as per the agreement. It also includes a range of several consumable/supply items of Compumedics. Adventist Health System is into the operation of providing healthcare services in the South and Southwest states of the US. It has 48 hospital campuses and more than 80,000 medical and healthcare personnel. Orders of $1.4 million (approx. USD1.0m) have been received by Compumedics from Adventist affiliated hospital in Tampa, Florida. The company will supply its neurological monitoring systems, which will include the new-generation Grael product platform, as well as the Nexus360 and Neuvo systems. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Compumedics has dispatched approximately 19 epilepsy-monitoring systems to the hospital under the sales order by Adventist, and it is confident going forward they are going to receive several such orders. The Adventist Health System hospital at Tampa, Florida is one of the largest epilepsy hospitals in Florida.

The Executive Chairman of Compumedics, Dr David Burton said that it is very pleasing to announce that the company has been able to sign the Master Agreement to become a key vendor for the Adventist Health System for the complete range of sleep, neurological monitoring and Neuroscan systems of Compumedics. Moreover, the company is happy to receive the initial and significant order from Tampa, Florida to supply the current generation of neurological monitoring technology of Compumedics.

The company has also published its corporate presentation where it has discussed its financial performance for the period H1FY19. It has reported its revenue of $18.7 million for H1FY19, compared to $16.1 million for the prior corresponding period of H1FY18, an increase of ~16.0%. The net profit and EBITDA are however up by 33% and 36% respectively on the prior corresponding period.

Now let us quickly have a look at the performance of the stock of Compumedics Limited and the returns it has produced over the past few months. The stock is currently trading at $0.350 increased by almost ~6.06% during the day’s trade, with a market capitalisation of $58.46 million (AEST 01:47 PM). The stock opened at $0.395 which is the day’s high as well, however it touched a day low of $0.350. It has a 52-week high price of $0.720 and a 52-week low of $0.320, with an average trading volume of 40,638. The company has generated a negative YTD return of 10.81%, with a negative yield of 28.26% during the last six months.


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