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 entered into an initial seven-year agreement with a Tier 1 OEM (“the Customer”) to develop CZT-based detectors for use in the Customer’s advanced medical imaging scanners. The Customer is a leading health-technology company with market-leadership positions in multiple businesses.
As part of this collaboration, the two companies will work together to integrate Kromek’s CZT-based detectors into the Customer’s medical imaging scanners. Following a short development phase, the agreement will transition into a longer commercial supply phase.
The collaboration across development and supply will strengthen the Customer’s advanced medical imaging portfolio and will pave the way to future innovations that may enable the next-generation of imaging-based precision diagnosis and therapy. The enhanced image quality associated with these innovations may enable the earlier detection of diseases, such as heart disease and cancer, thereby improving patient outcomes and increasing efficiencies within healthcare settings.
Arnab Basu, CEO of Kromek Group, added: “This Tier 1 OEM customer is one of the world’s foremost innovators in health technology and has a significant market leadership position in medical imaging. We share a common vision of improving people’s health through innovation and we have experienced this from the close working relationship we have built with their team over the past few years. We look forward to working with them to produce best-in-class detector solutions for their advanced medical imaging scanners and enable advancements in early detection of life-threatening illnesses.”