** Shares of Compumedics CMP.AX up 6.6% at A$0.325

** Medical device maker rises as much as 8.2% earlier in the day to hit its highest level since early September

** Co signs a five-year contract with Philips Australia to supply its Somfit device for Philips pharmacy-based sleep programme

** Philips undertakes pharmacy-based sleep testing in Australia, where pharmacy staff identify patients likely to have obstructive sleep apnea and encourage them to have a sleep test

** Somfit is a wearable device that collects patients' physiological data, primarily used in assisting medical professionals diagnose sleep disorders

** Compumedics says contract to provide about A$3 mln ($1.88 mln) of SaaS revenue for Somfit in Australia

** Stock up 15.1% this year, as of last close

($1 = 1.5954 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))