Kromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has secured two contracts, worth a total of $1 million, with a new OEM customer and an existing Bone Mineral Densitometry (BMD) customer. Both contracts commence immediately, with one delivered over an 18-month period and the other within the current financial year.
In the nuclear medicine instrumentation field, Kromek has been awarded a $700k order from a new OEM customer to supply its proprietary Cadmium Zinc Telluride (CZT) detectors to be used in the nuclear medicine market. The Company’s technology will provide higher resolution detection capabilities enabling better patient outcomes. This contract will be delivered over an 18-month period starting immediately.
In the Bone Mineral Densitometry market, Kromek has received a repeat contract of $340k for CZT-based detectors for the customer’s existing product line. This further re-enforces the run rate of this product group with all revenue from this contract to be recorded in the current financial year.
Dr Arnab Basu, CEO of Kromek, commented: “We continue to add new OEM customers in the medical device sector, working with them to build the next generation of medical instrumentation. Our CZT technology in medical scanners delivers excellent quality images and detection capability that lead to a better patient outcome. We also build strong and long-lasting partnerships with our clients, as highlighted by today’s repeat contract with another OEM in the BMD sector to supply CZT-based detection units for their equipment.”