SINGAPORE–(Marketwired – June 30, 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 provide an update to the forming of its new China based subsidiary Zecotek China Ltd. The formation of the new subsidiary has accelerated the potential adoption of the LFS by medical scanner developers as well as non-medical OEMs in China. Zecotek China is working closely with new medical and non-medical OEMs. Testing of the LFS crystals have been completed and we expect to receive purchase orders in the near future.
“While medical imaging OEMs are currently driving our growth in crystals sales in China, we are receiving significant interest from non-medical and government organizations to use the LFS for industrial applications,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “For over two years we have focused on China and performed the extensive ground work necessary to access this substantial and growing market. Together with our strategic partner EBO Optoelectronics, we have gained access to the Chinese medical imaging market. Now with Zecotek China, our newly formed subsidiary, we are attracting both non-medical and government organizations searching for scintillation crystals with superior performance characteristics. Our LFS crystal is gaining an excellent reputation in the Chinese marketplace, for its purity, consistent cost performance and patent protection worldwide.”
On May 16, 2017, Zecotek first announced it was forming a wholly owned subsidiary in the Shanghai Free Trade Zone which will operate with in the Zecotek Imaging Systems division. Zecotek China was created to conduct business with greater ease and efficiency and gain access to tax incentives and infrastructure within the local business environment. China is the second largest medical device market in the world and is growing at an unprecedented rate.
EBO Optoelectronics is the largest crystal array producer and supplier in China. It has an impressive international customer list including the top medical imaging OEMs in the world, and is using Zecotek’s LFS scintillation crystals exclusively for their PET (positron emission tomography) arrays. Zecotek China is working closely with EBO Optoelectronics and its customers both in and out of China.
Zecotek’s management team is taking the necessary steps to become the leading supplier of scintillation crystals and other photonics technologies in China and around the world.
About Shanghai EBO Optoelectronics Co. Ltd.
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) (OTC PINK: 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), 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.
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For Additional Information Please Contact:
Zecotek Photonics Inc.
Michael Minder
T: (604) 783-8291
[email protected]
