Kromek Group PLC Kromek wins over $750k in new orders (5282U)
August 02 2022 - 2:00AM
UK Regulatory
TIDMKMK
RNS Number : 5282U
Kromek Group PLC
02 August 2022
2 August 2022
Kromek Group plc
("Kromek" or the "Group")
Kromek wins over $750k in new orders
Repeat orders in medical imaging to be delivered this financial
year
Kromek (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
received two new orders worth a total of $751k, with both to be
delivered in the Group's current financial year.
The new orders, which are both from existing OEM customers in
the medical imaging market, are as follows:
-- A $500k order, from a longstanding customer, for the supply
of detectors for bone mineral densitometry applications; and
-- a $251k order from a US medical imaging customer that is
using Kromek's CZT detectors in their gamma probes for nuclear
medical applications. Following the customer receiving FDA approval
for this system last year, the Group has received a number of
repeat orders and expects further regular business.
Dr Arnab Basu, CEO of Kromek, said:
"These latest orders from long-standing OEM customers in our
niche medical markets continue the Group's momentum and underpin
the Board's confidence in meeting current year expectations. The
Board also believes these orders are indicative of the regular,
repeat nature of business in the advanced imaging segment. Once
designed into a customer's next-generation system, we typically
continue to receive repeat orders, which can also transition to a
multi-year supply agreement. Thanks to the value of our
technologies for medical screening applications, we have
established a strong customer base and we look forward to
continuing our robust growth in this market driven by the
significant opportunities in the SPECT and CT segment."
For further information, please contact:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
finnCap Ltd (Nominated Adviser and Broker)
Geoff Nash/Kate Bannatyne/George Dollemore
- Corporate Finance +44 (0)20 7220 0500
Tim Redfern/Charlotte Sutcliffe - ECM
Luther Pendragon (Financial PR)
Harry Chathli/Claire Norbury +44 (0)20 7618 9100
About 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 .
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