Compumedics executes on global Home Sleep Test (HST) Software as a Service (SaaS) strategy with key USA appointment 

Craig Gallivan – National Vice President of Sales – Home Sleep Testing 

Compumedics Limited (ASX: CMP) a global medical device company that develops, manufactures and commercialises diagnostic technology for sleep, brain, and ultrasonic blood flow monitoring, is pleased to announce that Craig Gallivan will join its USA-based business as National Vice President of Sales – Home Sleep Testing (HST).

This is a critical appointment and will underpin the growth of the company’s Somfit HST business in the USA, following the US Food & Drug Administration’s (FDA) approval of Somfit in December 2023. The Somfit business is based on software as a service (SaaS) revenue, where revenues are generated on a per-home sleep test basis.

The timing of this key appointment aligns with a significant market opportunity to capitalize on the introduction of the Somfit to the USA market. Significantly the total sleep tech devices market in the USA is estimated at up to $US8.7 billion per annum, with the immediate addressable market for Somfit, based on Compumedics’ estimates, at being up to $US100 million annually in SaaS revenues.

Craig is a seasoned high-performance sales leader and was previously Area Business Director at Zoll Itamar, a leading HST provider in the USA. There he was a three-time winner (2021, 2022, 2023) of the Presidents Club award for sales excellence. Prior to his role at Zoll Itamar, Craig previously worked at both Abbott and Merck, where he held numerous sales positions and won multiple awards for excellence and sales performance.

Craig was attracted to Compumedics due to Somfit’s unique device ecosystem, with its integrated Nexus platform, which enables the healthcare provider to choose from a comprehensive or simple streamlined range of diagnostic testing capabilities. These diagnostic study capabilities cover highly competitive and quality vascular-based SaaS home sleep tests, through to more comprehensive polysomnography (PSG) diagnostic testing capabilities.

Craig’s expertise in Customer Relationship Management (CRM) and Team Building were key factors in him managing a robust sales operation at Zoll Itamar, driving annual sales of more than $US11 million in HST SaaS. His collaborative efforts with his team solidified relationships across a diverse medical community at Zoll Itamar, positioning the company as a trusted advisor in the healthcare market.

Dr David Burton, CEO at Compumedics, said, “Craig will bring energy, professionalism, and competitive spirit to Compumedics as he builds a high-performance sales team to drive Somfit into the USA market. We are thrilled that Craig was drawn to Compumedics because of Somfit and its unique competitive advantages. We welcome Craig to the Compumedics team from June 17, 2024, and look forward to working together as we build our Somfit HST business in the USA.”

About Compumedics Limited

Compumedics Limited [ASX: CMP] 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 Company owns US based Neuroscan and Germany based DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including the Americas, Australia and Asia Pacific, Europe and the Middle East.

Executive Chairman Dr. David Burton founded Compumedics in 1987. In the same year the Company 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, including Australia’s Exporter of the Year, and has been recognised as a Top 100 Innovator by both German and Australian governments.

For further information please contact:

Dr David Burton
Executive Chairman, CEO
Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

David Lawson
Director, CFO
Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

Authorised for lodgment by Compumedics Limited’s Board of Directors