Compumedics Receives New MEG Order for AUD5.7M

Following the magnetoencephalography (MEG) system successful installation at Tianjin Normal University (TJNU) and further orders from Tsinghua and Tianjin Universities, Compumedics has received a new order from the prestigious Hangzhou Normal University (HZNU), taking total MEG sales orders to four, representing about $20m in revenues for this business.

Highlights

• Booking new sales order to Hangzhou Normal University with a value of USD3.7M (AUD5.7M)
• Installations will total four Compumedics MEG labs in China for a total of about $20m in revenues
• Compumedics expects to ship and install the new MEG system in FY26
• Compumedics updates FY25 guidance and provides initial FY26 guidance. Sales orders taken for FY25 are expected to be more than $60m for FY25, with booked revenues at least $55m and EBITDA of about $5m. FY26 booked revenues will be at least $70m and EBITDA to be more than $9m.

Compumedics Limited (ASX: CMP) (“Compumedics” or “Company”) is pleased to announce the confirmation of a new MEG contract to Hangzhou Normal University (HZNU) in China. The sale is via Beijing Fistar, Compumedics’ long-term Chinese distributor for the Company’s brain research technology. The MEG system, along with CURRY neuroimaging software and an array of ancillary equipment, will ship in early 2026 after site preparations are complete. Compumedics expects to receive a significant deposit this month securing the new order, with additional payments tied to shipment and installation.

The new MEG contract firmly establishes Compumedics as the dominant supplier of MEG technology in the large and fast-growing Chinese neurosciences market. The university’s selection of Compumedics was the result of a lengthy technical evaluation of all available MEG systems from multiple vendors, an endorsement that Compumedics’ design is both groundbreaking and in high demand.

Compumedics continues to develop the Orion LifeSpan™ MEG with a number of improvements over earlier systems to be incorporated into all the new deliveries. This includes SQUID sensor quality improvements, more uniform sensor distribution, improved dewar thermal efficiency, additional helium recycler capacity, lower noise hyperscanning recordings, an entirely new driver for locating the head’s position during MEG measurements, more robust and accurate head localisation software, better support for hyperscanning within CURRY, improved software convenience functions, data compatibility improvements and more.

Hangzhou Normal University was founded as a teacher training school in 1908. This long history has given the institution a strong tradition of producing first-rate teachers and educators for the entire Chinese nation. Through over a century of development, the university has now become a comprehensive institution of higher education with a full spectrum of disciplines, covering such areas as arts and sciences, humanities, education, music, engineering, information technology, business, law, medicine and nursing.

Mr. Gordon Haid, Compumedics Global Neuro-Imaging Business Director, said:

“We are again pleased to announce a new order for an Orion LifeSpan™ MEG system from China following the successful installation and acceptance of the first Orion LifeSpan™ MEG system in the country. As the world’s fastest growing market for advanced brain imaging technology, we are happy to be a major part of this growth. MEG has enormous potential to increase our understanding of complex brain function, whether it is healthy or pathological. The unique dual-helmet design of the company’s MEG is ideal for pediatric studies, including measurements of development and maturation. The endorsement of now four prestigious universities serves as validation that our design is both groundbreaking and in high demand. Going forward, Compumedics will look to target the North American market in 2025.”

Compumedics Executive Chairman, David Burton said:

“We are very pleased to receive this new additional MEG order from China, which we regard as very important early adopters of our unique MEG technology offering. The business opportunity is now gaining material commercial traction, and we are now firmly on the path to significant commercialisation of our innovative MEG offering over the foreseeable future. I look forward to numerous groundbreaking advances coming from HZNU’s ambitious neuroscience plans.”

About Compumedics Neuroscan Orion LifeSpan™ MEG

MEG is a functional neuroimaging technique for mapping brain activity by recording magnetic fields produced by electrical currents occurring naturally in the brain using very sensitive detectors. Compumedics has revolutionised MEG with the Orion LifeSpan™’s increased precision coupled with fully integrated CURRY brain analysis software. Over a 30-year period, Compumedics has established the gold standard in neurophysiological multi-modality (including MEG, EEG, MRI, CT, SPECT, PET) brain analysis software. In parallel, over a 30-year period our technology partner, the KRISS MEG team led by Dr. Yong-Ho Lee, have produced the most advanced MEG brain imaging scanner.

At the heart of the Orion LifeSpan™ are MEG sensors based on Double Relaxation Oscillation Superconducting Quantum Interference Devices (DROS SQUIDs), which are patented and exclusive. They are significantly more accurate than conventional MEG sensors.

Additionally, a unique dual-helmet Dewar enables accurate measurements from adult and paediatric populations, along with hyperscanning. This includes a sensors-in-vacuum cooling system for more sensitive measurements. The dewar is coupled to a virtual 100% coolant recycling system with continuous operation. No refilling of helium is required and 24/7 operation is possible.

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 Executive Director
Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

David Lawson
Director, Chief Financial Officer
Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

Authorised for lodgement by Compumedics Limited’s Board of Directors