Business
Contract Win and Regulatory Approval
Contract Win and Regulatory Approval.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6671L EKF Diagnostics Holdings PLC 08 July 2014 \n \n\nEKF Diagnostics Holdings plc\n(\"EKF\", the \"Company\")\n \nContract Win and Regulatory Approval\n \nEKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care, central laboratory and molecular diagnostics business, announces that it has signed a new distribution contract in China and that one of its OEM partners has received further regulatory approval across several target territories.\n \nContract Win\nThe Company has signed a new distribution contract for Biosen C-Line, its glucose and lactate analyser, with Tianjin Multiclone Trading Company in China, which could significantly increase its installed user base. The initial contract is for 1,900 analysers worth approximately €4.0m over a two and a half year period, commencing immediately. The end customer will also need to purchase consumables for the analyser, and it is anticipated that this could generate a further €2.0m of revenue over the same forecast period. Furthermore, whilst these initial revenue expectations are extremely pleasing, it is expected that these instruments will have a useful life of up to 10 years, which would significantly increase the consumables revenue for EKF.\n \nRegulatory Approval\nAdditionally, EKF announces that its global German partner has received regulatory approval in China and Japan for its CompoLab TS haemoglobin instrument, which is manufactured by Diaspect, a wholly owned subsidiary of EKF.\n \nJulian Baines, Group CEO of EKF Diagnostics said, \"We are delighted to have signed up Tianjin as a new distributer in one of the key territories for diagnostic companies, where the opportunity for rapid growth is clearly significant. We are also pleased that our global German partner, a worldwide provider of infusion, transfusion and clinical nutrition has expanded its sales reach, which paves the way for further growth across Asia.\"\n \n \nEnquiries:\n \n\n\n\n\nEKF Diagnostics Holdings plc \n\n\nTel: 029 2071 0570\n\n\n\n\nDavid Evans, Executive Chairman\n\n\nMob: 07740 084 452\n\n\n\n\nJulian Baines, CEO \n\n\nMob: 07788 420 859\n\n\n\n\nPaul Foulger, CFO\n\n\nMob: 07710 989 255\n\n\n\n\n \n\n\n \n\n\n\n\nCanaccord Genuity Limited\nNominated Adviser/Corporate Broking\...