Computer-based patient monitoring and diagnostics systems specialist Compumedics has announced it has achieved a critical milestone in the development of its eHealth platform by securing four key contracts with leading health services partners in South Korea, Shanghai, Hong Kong and Taiwan.
The potential incremental revenues from these contracts amount to approximately US$4.1 million over the next three years.
As noted in the 2013 Annual Report, Compumedics has focused on transforming sleep-diagnostic technology into a fully integrated cloud-based solution for monitoring and diagnosing sleep.
The solution will apply to both physicians and consumers.
The eHealth platform has progressed to the pre-commercialisation phase. A vital part of the commercialisation trajectory has been to secure initial partners to work with in order to finalise the products, technology and platform. Securing these contracts is a significant milestone as they enable the completion of the first round pre-commercialisation phase.
Each of the four partners has worked with Compumedics for more than five years and has well established reputations and customer bases in their respective market in sleep diagnostics and related areas. In addition, by securing the contract for Shanghai in China, Compumedics is well placed to develop the business model uniquely for this market followed by a roll-out across China.
Compumedics is working to ensure it is an early mover in these markets, with the consequential ability to lock in a substantial market share. There are currently no known competitors in this domain.
"Compumedics is a pioneer in sleep diagnostics and is well-placed to develop and introduce this next generation of sleep and neurology-diagnostic technology. Enabling unique online eHealth services enhances user experience outcomes for consumers, patients and professional health-carers, alike. These professional health services contracts position the company for a more expansive series of upcoming professional services deals," said Dr David Burton, Chairman and CEO of Compumedics.