StockMarketWire.com - Radiation detection technology company Kromek said Monday it had secured two contracts, worth a total of $1m, with a new OEM customer and an existing Bone Mineral Densitometry customer.

Both contracts are expected to commence immediately: one delivered over an 18-month period and the other within the current financial year, the company said.

Kromek had received a $700k order from a new OEM customer to supply its proprietary Cadmium Zinc Telluride (CZT) detectors, which would be used in the nuclear medicine market.

Kromek had also received a repeat contract of $340k for CZT-based detectors for the customer's existing product line. This would further enforce the run rate of this product group and all revenue from this contract would be recorded in the current financial year, the company said.

'We continue to add new OEM customers in the medical device sector, working with them to build the next generation of medical instrumentation. Our CZT technology in medical scanners delivers excellent quality images and detection capability that lead to a better patient outcome,' said Dr Arnab Basu, CEO of Kromek.




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