REG - Kromek Group PLC - Kromek receives medical imaging order of c.$1.4m

KromekAnnouncement

02/05/2023 07:00

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RNS Number : 9858X  Kromek Group PLC  02 May 2023

2 May 2023

Kromek Group plc

("Kromek" or the "Group")

 

Kromek receives order of c.$1.4m in medical imaging from new OEM customer

Order from Asia-based OEM customer in key SPECT market

Kromek Group plc (AIM: KMK), a leading developer of radiation and
bio-detection technology solutions for the advanced imaging and CBRN detection
segments, is pleased to announce that it has secured an initial order for its
CZT-based detector modules from a new OEM customer, which is an established
player in the medical imaging sector in Asia. The contract consists of several
elements worth a total of $1.425m and is in one of the Group's key target
markets of single photon emission computed tomography ("SPECT").

 

The order is for the Group's CZT-based detector modules, to be used in the
customer's next generation SPECT systems in niche applications. Delivery and
revenue recognition will be in the current financial year.

 

Arnab Basu, CEO of Kromek Group, said: "This order, from a new OEM customer,
is another demonstration of the robust demand for our innovative CZT-based
medical imaging solutions in SPECT applications.   This order from a new
customer in Asia underscores the requirement of CZT-based detectors due to
demand globally for early diagnosis of critical illnesses leading to better
patient outcomes.  This initial order improves the Group's visibility over
full year revenues, and as such the Board is confident in delivering further
significant growth in the year ending 30 April 2024."

 

 

For further information, please contact:

 

 Kromek Group plc
 Arnab Basu, CEO                                                   +44 (0)1740 626 060

 Paul Farquhar, CFO

 finnCap Ltd (Nominated Adviser and Broker)                         
 Geoff Nash/Seamus Fricker/George Dollemore - Corporate Finance    +44 (0)20 7220 0500

 Tim Redfern/Charlotte Sutcliffe - ECM

 Gracechurch Group (Financial PR)
 Harry Chathli/Claire Norbury                                      +44 (0)20 4582 3500

Kromek Group plc

 

Kromek Group plc is a leading developer of radiation detection and
bio-detection technology solutions for the advanced imaging and CBRN detection
segments. Headquartered in County Durham, UK, Kromek has manufacturing
operations in the UK and US, delivering on the vision of enhancing the quality
of life through innovative detection technology solutions.

 

The advanced imaging segment comprises the medical (including CT and SPECT),
security and industrial markets. Kromek provides its OEM customers with
detector components, based on its core cadmium zinc telluride (CZT) platform,
to enable better detection of diseases such as cancer and Alzheimer's,
contamination in industrial manufacture and explosives in aviation
settings.

 

In CBRN detection, the Group provides nuclear radiation detection solutions to
the global homeland defence and security market. Kromek's compact, handheld,
high-performance radiation detectors, based on advanced scintillation
technology, are primarily used to protect critical infrastructure and urban
environments from the threat of 'dirty bombs'.

 

The Group is also developing bio-security solutions in the CBRN detection
segment. These consist of fully automated and autonomous systems to detect a
wide range of airborne pathogens.

 

Kromek is listed on AIM, a market of the London Stock Exchange, under the
trading symbol 'KMK'.

 

Further information is available at www.kromek.com (http://www.kromek.com/)
.

 

 

 

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