BATM Advanced Communications Limited (LON:BVC) said it has received a €29mln (£26mln) order to deliver 1,000 critical care mechanical ventilators to a European government.
The networking tech and medical lab specialist said it has received an upfront fee of €7.25mln and expects the remaining balance to be paid upon completion of the delivery in the second half of 2020.
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The group said the ventilators, which are designed to be used in intensive care units (ICUs) to treat patients suffering from coronavirus, will enter production immediately with around 25% expected to be delivered in the first half and the remainder of the third quarter of the current year.
BATM added that it has continued to ramp up deliveries of its coronavirus diagnostic kits for use in medical facilities, while development for a home-use test is on track to be completed within the next three months.
"Since the beginning of the [coronavirus] outbreak, our bio-medical businesses have been active in seeking solutions to support the global response. We are now able to offer a critical care ventilator alongside our diagnostic products, which are all high-performing solutions that we continue to innovate and improve”, said BATM chief executive Zvi Marom in a statement.
“This is a significant order, which we expect to expand, and we are proud that we will be able to make a difference to the lives of so many people who are fighting this virus. We are continuing to dedicate the efforts of our bio-medical businesses to help public health authorities combat this pandemic as well as to provide solutions to support them in the aftermath", he added.