Kromek expands medical imaging influence in China

Sedgefield-based radiation detection equipment makers Kromek have secured a long-term contract with a Chinese SME for the sale of its technology in the Asian market.

The Chinese firm is a manufacter of x-ray diagnostics and analysis equipment, and this contract grants them preferential rights to Kromek’s CZT-based detection modules, in their region.

The deal is a boost for Kromek who earlier this month warned that delays in a number of contracts would interrupt their path to break even point.

Over seven years this contract is expected to be worth $159 million, with advanced cash payment of $200k in the current financial year.

Arnab Basu, CEO of Kromek, said: “We are pleased to announce significant, further traction in the medical imaging space, particularly in a large, high growth market such as China.

“The signing of this contract represents further endorsement of our offering and highlights the role we can play as global medical imaging capability advances, with Kromek’s technology at its heart as a key enabler.”