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COMPUMEDICS has signed a $2 million deal which will see its Neuroscan brain research and neurology monitoring products distributed in South Korea by its long-term distribution partner Kwangwon.
The contracts builds on Compumedic's established relationship with Kwangwon, and is effective for three years, with 10 percent growth locked in per annum.
According to Compumedics, the deal reinforces its strategy to expand its core business in major global medical device markets, particularly its core Neuroscan brain research business, which includes its brain source localisation software titled "CURRY".
The deal also provides scope for the Company to expand and introduce its eHealthMedics professional Cloud -based sleep diagnostic services model to the Korean market.
Over the years, Compumedics has built a strong market in Asia, becoming the number one premium supplier of sleep diagnostic and neurological research systems in China, and the preeminent supplier of brain research equipment into Korea.
Deals like this means Compmedics is well positioned to capture growth not only in brain research across Asia , but also in sleep diagnostics and in neurological monitoring, a relatively new and untapped market for the company in Asia.