Compumedics (ASX:CMP) has completed a $2.15 million placement to accelerate the commercialisation of its Somfit D sleep diagnostic device, following early U.S. Food and Drug Administration approval.
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The raise, in at 28.5 cents per share, will fund expanded manufacturing and working capital as the company transitions into full-scale rollout in the States.
A total of 7,543,860 new shares will be issued, representing a 3% discount to the 15-day volume-weighted average price of 29.5c and a 16% discount to the last traded price of $0.34. PAC Partners Securities acted as lead manager.
Compumedics said the funds will primarily support the commercial scale-up of Somfit D, which received FDA clearance three months ahead of schedule. The company noted that the Somfit pipeline now exceeds US$20 million, positioning it to capture share within the expanding U.S. home sleep testing market, valued at approximately US$250 million and growing up to 25% per annum.
In addition to Somfit, proceeds will be used to increase production capacity for the OrionMEG brain imaging systems, which have secured around $15M in FY26 orders and generated more than $20M in early demand from China. The company aims to prepare for further sales into the U.S. and European markets.
Compumedics said it is entering its most significant commercial expansion phase, driven by three strategic pillars: scaling Somfit in the U.S. home sleep market, global expansion of OrionMEG, and ongoing growth in SaaS-driven revenue via its Nexus 360 platform. More than 770,000 studies have been completed through the platform to date, contributing to recurring revenue and higher margins.
Executive chairman and CEO Dr. David Burton said the early FDA clearance marks a key milestone shift from pilot programs to revenue generation. “This capital allows us to ramp up manufacturing capacity, meet demand, and accelerate onboarding of major U.S. sleep operators and pharmacy partners.”
CMP heads into Wednesday’s trade at 34cps.
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