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Kromek secures orders totalling over $1m in medical imaging

29/03/2023

Kromek Group PLC (AIM:KMK) has secured repeat orders for its Cadmium Zinc Telluride-based detectors from three medical imaging customers worth a total of US$1.1mln (£900,000) in the group’s key target market of single photon emission computed tomography (SPECT).

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 repeat orders for its CZT-based detectors from three medical imaging customers worth a total of $1.1m in the Group’s key target market of single photon emission computed tomography (“SPECT”).

The orders comprise a $300k award for detectors for niche SPECT applications, which is expected to be delivered in the Group’s current financial year, and a $563k order from an OEM for niche SPECT applications and a $205k order for niche medical imaging applications. The two latter orders are both from long-term customers of Kromek with delivery due to commence during the Group’s current financial year and completing in the first half of the 2024 financial year.

Arnab Basu, CEO of Kromek Group, said: “Receiving these orders from long-term customers in the medical imaging market highlights the regular, repeat nature of business in the advanced imaging segment, which is a real strength for Kromek. They also reflect the importance of SPECT and the sustained demand for our solutions in this area. As the only commercial independent global supplier of CZT, we are continuing to receive heightened interest from OEMs in our advanced detectors for SPECT and CT applications. The growth in demand from both new and existing customers reinforces the Board’s continued confidence in our prospects in this market.”

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