Compumedics reaches $20m in Chinese MEG sales with latest university contract

Brain research technologies specialist Compumedics (ASX: CMP) has reached $20 million in sales for its magnetoencephalography (MEG) system in China.

The latest $5.7m contract from Hangzhou Normal University follows the successful installation of a MEG system at Tianjin Normal University and further orders from Tsinghua and Tianjin universities.

MEG is a neuroimaging technique for mapping brain activity by recording magnetic fields produced by electrical currents occurring naturally in the brain using highly sensitive detectors.

Large, fast-growing market

Compumedics global neuroimaging business director Gordon Haid said the new MEG contract firmly establishes the company’s position in the large and fast-growing Chinese neurosciences market.

He said the university’s selection of Compumedics was the result of a lengthy technical evaluation of all available MEG systems from multiple vendors, with Compumedics’ long-term Chinese distributor Beijing Fistar conducting the sale .

“MEG has enormous potential to increase our understanding of complex brain function, whether it is healthy or pathological,” Mr Haid added, saying that the company would now look to target the North American market.

“The endorsement of now four prestigious universities serves as validation that our design is both groundbreaking and in high demand.”

The company expects to ship the MEG system, along with CURRY neuroimaging software and an array of ancillary equipment, to Hangzhou in early 2026 after the completion of site preparations.

Improvements incorporated

Compumedics executive chair David Burton said the company continues to develop the Orion LifeSpan MEG with a number of improvements over earlier systems to be incorporated into all the new deliveries.

These include sensor quality improvements and improved uniformity, an entirely new driver, more robust and accurate software, improved software convenience functions and data compatibility improvements.

“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,” Mr Burton said.