20 January 2016
Kromek Group plc
("Kromek" or the "Company")
New contract with long-standing customer in bone mineral densitometry segment
Repeat order for detector modules in key medical diagnostics area
Kromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has been awarded a further renewal of its contract with a current customer for delivering its detector modules to be incorporated into the customer's bone mineral densitometry ("BMD") diagnostics systems. The new contract, worth $957,000, is to be delivered over a 20-month period.
The contract is with an existing long-standing OEM customer. The incorporation of the Company's detector modules in the customer's systems enables the most accurate imaging technique to diagnose the strength and health of bones, which allows clinicians to accurately detect, monitor and treat Osteoporosis in patients.
Arnab Basu, CEO of Kromek, said: "We are delighted that this long-standing customer has renewed their supply contract for detectors, which further strengthens our relationship with them. We continue to win repeat business from existing customers and BMD remains a key segment offering growth opportunities over the next 12 to 18 months in addition to our three primary growth target markets of SPECT, CT and networked radiation detectors."
Enquiries
Kromek Group plc |
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Arnab Basu, CEO Derek Bulmer, CFO |
+44 (0)1740 626 060 |
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Cenkos Securities plc |
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Bobbie Hilliam (NOMAD) Julian Morse (Sales) |
+44 (0)20 7397 8900 |
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Luther Pendragon Ltd |
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Harry Chathli, Claire Norbury, Alexis Gore |
+44 (0)20 7618 9100 |
About Kromek Group plc
Kromek Group plc is a UK technology company (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT"). Using its core CZT technology, Kromek designs develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.
The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.
The Group's business model provides a vertically integrated technology offering to customers, from the growth of CZT crystals to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").
The Group has operations in the UK, Germany and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.
Currently, the Group has over a hundred full time employees across its global operations. Further information on Kromek Group is available at www.kromek.com.
