Member Article

Kromek lands $12.6m five-year contract with OEM customer

Durham-based Kromek, a radiation detection technology company, has won a new $12.6m contract with a current original equipment manufacturer (OEM) customer which produces bone mineral density (BMD) diagnostics systems.

Under the terms of the agreement, Kromek’s detector modules will be incorporated into the customer’s systems to produce accurate imaging to diagnose the strength and health of bones.

In turn, the new generation of diagnostic systems will reportedly allow clinicians to accurately detect and monitor progression of osteoporosis in patients resulting in more effective treatment.

The contract is expected to start during the first half of the financial year to 30 April 2017 and to be delivered over a 5-year period.

Arnab Basu, CEO of Kromek, said: “It is very pleasing to secure such a significant contract from a long-standing customer. It strengthens our relationship with them and further validates the benefits of our BMD diagnostic systems.

“The agreement represents the continued healthy conversion of our pipeline into orders as we continue to win new business in the medical sector and across our key target markets of SPECT, CT and networked radiation detectors.”

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