SINGAPORE–(Marketwired – March 09, 2017) – Zecotek Photonics Inc. (TSX VENTURE: ZMS) (FRANKFURT: W1I) (OTC PINK: ZMSPF), a developer of leading-edge photonics technologies for healthcare, industrial and scientific markets, is pleased to announce that the Shanghai EBO Crystals Assembly Company, the largest crystal array producer and supplier in China, has been appointed exclusive distributor of its patented LFS scintillation crystals for all sales to end users and in particular the positron emission tomography (PET) medical scanner OEMs in China. Furthermore, EBO will not use any of the competitive crystals and will only use LFS scintillation crystals in arrays for all new PET medical scanners.
“The scientific team at EBO recognize the cost-performance superiority of Zecotek’s patented LFS scintillation crystals when used in PET medical scanners,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “To have EBO become the exclusive distributor of LFS crystals, and agree to only use LFS crystals for their arrays sold to PET OEMs, will create significant value to our company. After extensive testing of our LFS crystals where EBO measured consistency of performance, product availability and cost/pricing considerations with end users, EBO has chosen to focus its crystal and array sales to PET OEM using only Zecotek LFS crystals. We expect today’s announcement to drive significant crystal sales in China, as the government is aggressively growing the number of medical scanners to attend to the world’s largest aging population.”
As mentioned in the previous announcement on January 25, 2017, EBO is the largest crystal array producer and supplier in China. Their arrays are used by many of the top OEMs in the very fast growing domestic PET medical imaging market. Those OEMs installing new scanning machines in hospitals and clinics across China will be using Zecotek’s LFS crystal arrays. Historically, EBO used a number of different competing crystals, mainly the LYSO/LSO, in their arrays. However, due to the superiority of LFS, moving forward the organization will only use LFS crystals for array components for PET medical scanners.
Recent changes to the regulatory landscape in China has caused OEMs to manufacture medical scanning devices domestically. The Chinese government has been using incentives to encourage domestic hospitals to use Chinese-made medical devices as it looks to stimulate the local market and reduce soaring healthcare costs. The strategy is working as more and more high quality medical devices are being manufactured in China and competing on a global basis.
About Shanghai EBO Co.
Founded in 2007 and headquartered in Shanghai, EBO has more than 120 employees and 4,000 square meters of manufacturing space. Shanghai EBO fabricates and supplies crystal arrays to an extensive customer base which includes: Neusoft Medical Systems, Samsung Medical, Topgrade Healthcare, FMI Medical Systems, IHEP of CAS, Huazhong University of Science and Technology, and many domestic and foreign universities and research institutions. EBO has the highest standard processing production line and offers shaped crystal customization and crystal array assembly to end users.
About Zecotek
Zecotek Photonics Inc (TSX VENTURE: ZMS) (FRANKFURT: W1I) 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), Beijing Opto-Electronics Technology Co. Ltd. (China), 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.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future, please visit the corporate website at www.zecotek.com.
For Additional Information Please Contact:
Zecotek Photonics Inc.
Michael Minder
T: (604) 783-8291
ir@zecotek.com