SINGAPORE--(Marketwired - October 31, 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 a well-established life sciences OEM based in Europe has selected its patented Lutetium Fine Silicate (LFS) scintillation crystals for a new line of high resolution positron emission tomography (PET)/computed tomography (CT) medical imaging devices. Final qualifying phase data has been sent to the OEM, prior to the execution of a long-term supply engagement as the OEM prepares for the introduction of a new line of specialized PET/CT medical systems to be distributed globally. The OEM has requested to remain anonymous for competitive reasons.

"We are pleased to announce that a major European OEM has officially adopted our patented LFS crystals; production and supply discussions are ongoing, and the contract to supply LFS scintillation crystal to a top European OEM, launching a new line of PET/CT scanning devices, is potentially worth over $10 million per year to Zecotek when in full production," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc.

"We have been developing the project to supply LFS crystals to this organization for quite some time, and continue to be in discussions with several other OEMs wanting scintillation crystals. This new customer adds to our recent success in the Chinese PET market, where we have been qualified to supply crystals to several PET OEMs and High Energy Institutions. Based on our internal analysis, the estimated demand for LFS crystals in 2018 is likely to be over US$20 million. We are focused to capture as much of this estimated business as possible."
Zecotek has strategically positioned itself to supply the LFS scintillation crystals to medical device OEMs around the globe. The Company has recently announced the adoption of LFS crystals by tier 1 PET OEMs in China, one of the world's fastest growing medical scanning device markets. China has experienced rapid economic growth, it has a growing middle class and an aging population, and a government motivated to increase investment in medical diagnostic equipment.

Other international medical device OEMs, including the well-established European OEM adopting LFS crystals, are expected to introduce new generation PET and PET/CT medical scanning devices very soon. New and more efficient readout systems, combined with faster and brighter crystals and more sensitive photo detectors, have created the technological environment where the new devices are being readied for the medical markets with far superior operating systems than current devices being used in hospitals today. Medical officials in North America, Europe and Asia are desperate for faster, higher resolution scanning devices as aging populations place greater demands on their respective healthcare systems.

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