SLEEP diagnostic device company Compumedics has secured four key contracts in Asia to progress with the pre-commercialisation of a cloud-based sleep monitoring platform.
Compumedics is a medical device company involved in the development, manufacture and commercialisation of diagnostics technology for the sleep, brain and ultrasonic blood-flow monitoring applications.
The four key contracts with health services partners in South Korea, Shanghai, Hong Kong and Taiwan will generate incremental revenues of US$4.1 million over the next three years.
This will allow the company to continue transforming its sleep-diagnostic technology into a fully integrated cloud-based solution for monitoring and diagnosing sleep, providing its devices to both clinical laboratories and at home.
According to Compumedics, 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.
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. The contract in Shanghai will also allow Compumedics to roll-out its business model across China.
Compumedics says it is looking to capitalise on its early mover advantage in the cloud-based sleep diagnostics market, one which is driven by a large unmet demand in sleep testing, particularly in Asia.