Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F, OTCPK: ZMSPF), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, is pleased to announce that it has received a $500,000 order for its patented Lutetium Fine Silicate (LFS) scintillation crystals from a positron emission tomography (PET) medical imaging device manufacturer based in China. The Chinese OEM has chosen Zecotek's LFS scintillation crystals for a new series of PET medical imaging devices and this is the first of a contemplated series of purchase orders to meet the OEM's customers request for high resolution PET scanners.
"Although estimated to be the fourth largest in size today, the Chinese medical scanning device market is one of the world's fastest growing and represents a great opportunity for Zecotek," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "China continues to experience rapid economic growth, a growing middle class and an aging population. These factors have placed pressure on the Chinese government to increase investment in medical diagnostics including imaging in hospitals and medical centers around the country. We have established a presence in this important market with the Beijing Opto-Electronics Technology Company manufacturing our LFS scintillation crystals, which will facilitate for straightforward crystal delivery. We look forward to fulfilling additional orders as the PET OEM ramps up production to deliver its new PET medical scanners."
China represents a significant opportunity for PET OEMs and Zecotek. In the United States there are approximately 2,000 PET medical scanners in operation, or about 6.5 scanners per one million Americans. Although the market place in North America differs considerably as compared with China, with a population of approximately 1.5 billion people the need for PET medical scanners is substantial. Each PET scanning machine is made up of scintillation crystals, photo detectors and a read out system and costs approximately $1,000,000 to manufacture. Scintillation crystals represent approximately 40 percent of the cost to produce a PET medical scanner.
Zecotek's patented (US patent No. 7,132,060) LFS series of scintillation crystals are known for their high light yields and ultra-fast decay times which allow for faster and higher-resolution operation of medical and industrial imaging devices including PET medical scanners. The Company's line of LFS crystals also cover a wide range of emission wavelengths which can be tailored to match the spectral sensitivity of various photo detectors including its own solid-state MAPD photo detector arrays.
The LFS scintillation crystals will be supplied by the Beijing Opto-Electronics Technology Company (BOET), a subsidiary of North-China Research Institute of Electronics-Optics an industry leader in growing, cutting, polishing and large scale production of scintillation crystals grown by the Czochralski method. Zecotek's manufacturing process permits the growth of very large-diameter boules with uniform properties and without cracking (a problem with many competing scintillation materials), resulting in high element output and lower unit costs.
