Set to revolutionise sleep and brain healthcare in China, Melbourne-based medical device organisation Compumedics announced it has entered into a proposed Joint Venture agreement with leading China health-check organisation, Health 100.
CEO and Chairman of Compumedics, Dr David Burton said the agreement, which is expected to generate at least $133 million in trade, has been "a culmination of decades of product and technology innovation and development.” Working collaboratively with Health 100, Burton and his team at Compumedics aim to “make history transforming health and leading the way for the future of primary, secondary and tertiary community-wide healthcare.”
Boasting a first-of-its-kind, medical-grade wireless wearable system, Compumedic’s device, Somfit caught the attention of Health 100 Chairman Dr Rong Yu after an introduction during a trade mission to China led by Victorian Government in 2017.
The announcement marks the first steps towards commercialising the Somfit technology, as well as creating substantial and reciprocal trade and investment opportunities between Victoria and China in healthcare transformation and knowledge-based jobs.
Founded in the 1980s following its development of computerised sleep polysomnography, Compumedic’s successfully designed and installed the first Australian, fully computerised Sleep Clinic at Epworth Hospital in Melbourne. Following this early success, Compumedics focused on the development of products that sold into the growing international sleep clinic and home monitoring markets. Compumedics listed on the Australian Securities Exchange in 2000. Over the years, Compumedics has received numerous awards and accolades including Australia’s exporter of the year and has been recognised as a Top 100 Innovator by both German and Australian Governments
Pending Somfit receiving the green light from China’s Food and Drug Administration, Health 100’s initial plans are to roll out one million Somfit systems in China over the next two years.