China deal awakens Compumedics share price

A deal that will put more Australian sleep and brain monitoring devices in Chinese hospitals has sent a Melbourne firm's share price up more than 20 per cent.

Shares in Compumedics have jumped after the Australian sleep monitoring and diagnostics device company announced new distribution agreements in China

Compumedics, which claims its sleep and brain monitoring equipment has been installed in seven of China's top 10 hospitals, announced on Friday that it had secured new three-year distribution agreements with Chinese distributors and a new order worth $1.1 million.

Shares in the medical device business were 7.5 cents, or 20.6 per cent, higher to 44 cents at 1435 AEST.