For immediate release: June 13, 2018
Zecotek Receives Single Largest Purchase Order of US$5,000,000 for Patented LFS Scintillation Crystals from Key Distribution Partner
Vancouver, June 13, 2018 – Zecotek Photonics Inc. (“Zecotek” or the “Company”) (TSX-V: ZMS, Frankfurt: W1I, OTCPK: ZMSPF), a developer of leading-edge photonics technologies for healthcare, industrial and scientific markets, is pleased to announce the single largest purchase order of US$5,000,000 for its patented LFS scintillation crystals through a distribution partner in China. The crystals will be used for positron emission tomography (PET) medical scanning equipment.
“2018 will be a transformative year for Zecotek’s medical imaging business,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “This purchase order of US$5 million represents more revenue than we have achieved previously in an entire year. The order also demonstrates the success of the patient and systematic approach we have taken in the Chinese marketplace. Our initiatives have established a strong foothold in China by creating key distribution partnerships, building a talented local sales team, and, as recently announced, installing our own state-of-the-art crystal production facility. The large order comes from one of our key sales channel partners for components related to the PET/CT medical imaging industry. The first shipment of LFS crystals is expected to be completed in the next 30 days, with the crystals coming from our current inventory. The remaining shipments will take place over the next 12 months and will be supplied by our new crystal production facility in Shanghai. We will continue to aggressively expand our sales opportunities in China and elsewhere and look forward to reporting further results.”
Zecotek’s LFS series of scintillation crystals are known to be uniquely qualified for components in PET medical scanners. LFS crystals have the fastest decay parameter in their category, the best energy resolution and competitive pricing, which are key attributes for the new configurations of high resolution Time Of Flight PET scanners. PET OEMs have conducted comparative tests with other many other scintillation materials, and recognize Zecotek’s LFS crystals to be superior for specific designs of PET medical scanners.
Zecotek is focused on of becoming a leading supplier of scintillation crystals and other the key photonic components in China and around the world.
Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I; OTCPK: ZMSPF) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, 3D metal printing, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Optronics Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances with Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit www.zecotek.com and follow @zecotek on Twitter.
This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
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Zecotek Photonics Inc.
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