Zecotek’s MOU Altered
SINGAPORE, March 31, 2017 — Zecotek Photonics Inc., a developer of photonics technologies, has announced changes to its memorandum of understanding (MOU) with a Chinese medical OEM.
"With the recent announcement that the EBO Optoelectronics will now use Zecotek's patented lutetium fine silicate (LFS) scintillation crystals exclusively for positron emission tomography (PET) scanner crystal arrays, the Chinese OEM requested a change to the MOU whereby they can purchase the LFS directly from EBO, based on the Zecotek-EBO arrangement,” said A.F. Zerrouk, chairman, president and CEO of Zecotek Photonics. “We have agreed to work through EBO because the change does not significantly affect the returns to Zecotek for the sales of LFS crystals contemplated in the MOU. Zecotek will continue to supply LFS crystals for up to 200 PET medical scanning units to be built by the OEM over the next five years.”
EBO Optoelectronics is the largest crystal array producer and supplier in China, with their arrays being used in the growing domestic PET medical imaging market. Recent changes to the regulatory landscape in China have caused OEMs to invest in the management and technology necessary to manufacture medical scanning devices domestically.
"The delay in the execution of the MOU was due to design configuration modifications to use arrays rather than single elements as well as other adjustments necessary to meet new stringent government regulations,” Zerrouk said. “The Chinese OEM has resumed its purchase of LFS crystals in array forms through EBO. Zecotek is working with EBO to develop a schedule to meet the OEM’s production plan.”
Zecotek is a developer of high-performance scintillation crystals, photo detectors, PET scanning technologies, 3D auto-stereoscopic displays, 3D metal printing, and lasers for applications in the medical, high-tech and industrial sectors.
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