Kromek Group wins over $750k in new orders

Kromek Group

Kromek Group plc (LON:KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, has announced 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.”

Kromek Group also announced its final results for the year ended 30th April 2022.

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