Compumedics' strategic equity raise

Compumedics (ASX:CMP) has announced a $2.15 million equity raise aimed at accelerating growth. The global medical device company will use the funds to expand its sales force in the USA and support the FDA approval process for its Somfit device. This move comes amid significant sales growth in key markets like the USA, Europe, and Asia.

Compumedics' growth outlook and strategy

Compumedics has successfully raised $2.15 million through an equity raise, issuing 8,269,231 new shares at $0.26 each. The funds will primarily be used to enhance the company's US sales force and support the FDA approval process for a disposable version of the Somfit device. This strategic move aligns with Compumedics' goal to tap into the substantial US home sleep apnea test market. The company is also witnessing robust sales growth, with significant increases recorded in the USA, Europe, and Asia. With projected FY25 sales exceeding $55 million and an EBITDA above $5 million, Compumedics is poised for further expansion. The equity raise reflects Compumedics' commitment to sustaining its growth trajectory and enhancing its competitive edge in the medical device industry.

Executive perspectives on equity raise

The equity raise will provide Compumedics with the necessary resources to expand our presence in the USA and achieve FDA approval for the disposable Somfit device. These steps are crucial for our continued growth and success in the global market.