Zecotek Photonics Inc (CVE:ZMS, OTCMKTS:ZMSPF) has unveiled a new deal worth US$21mln to supply a Shanghai based company over three years.
The photonics group will ship LFS scintillation crystal, a key material for nuclear based imaging, to the customer EBO Optoelectronics.
As a result of the deal, Zecotek will become the main supplier of Lutetium silicate based scintillation crystals to EBO.
It follows recent changes to the regulatory landscape in China, Zecotek chief executive Dr A.F. Zerrouk said.
The company highlighted that EBO is the largest producer and supplier of crystal arrays in China.
“The Shanghai EBO Optoelectronics Company is a strategic customer with strong network and access to the medical imaging industry in China,” Zecotek said in a statement.
“This initial contract is a starting point and we look forward to building an even more significant business with EBO to capture a significant portion of the PET medical scanner market in mainland China."