Agreement Signed with Leading H'care Imaging Co (3318J)
29 Juin 2011 - 8:00AM
UK Regulatory
TIDMXCT
RNS Number : 3318J
XCounter AB
29 June 2011
XCounter
PRESS RELEASE
Stockholm, 29 June 2011
XCounter AB (publ)
Agreement Signed with Leading Healthcare Imaging Company
XCounter AB (publ) (AIM:XCT), a technology leader in the
development and supply of specialty X-ray detectors and
tomosynthesis based 3D medical imaging, is pleased to announce that
it has signed an exclusive, worldwide agreement for the development
and supply of photon counting digital X-ray detector technologies
with a leading healthcare imaging company ("Partner"). Under the
Agreement, it is intended that XCounter, which is headquartered in
Stockholm, will develop and supply the Partner with high speed
digital 3D X-ray imaging detectors based on its proprietary photon
counting and solid-state material technologies.
Depending on the success of the R&D-project and assuming
commencement of supply of detectors, the agreements have an
aggregate value of up to EUR50m over the next nine years. As part
of the Agreement but unconditional, XCounter has agreed to seek
shareholder approval to grant a Warrant to the Partner by latest
Dec 31, 2012 representing 12.5 per cent of XCounter shares at an
exercise price equal to 3x the average closing price of XCounter's
shares 30 days prior to this announcement. Further details to
follow.
The Board now considers XCounter to be a going concern.
Mikael Strindlund, CEO of XCounter, commented, "This multi-year
co-operation with a major, market-leading healthcare imaging
company is clear evidence that XCounter is the technology leader
within low dose high image quality providers of digital X-ray
detectors. We look very much forward to a long and fruitful
co-operation with our Partner."
For further information, please contact: XCounter AB Mikael
Strindlund Tel: +46 (0) 8 622 23 00 Nomura Code Securities Limited
Tel +44 (0) 20 7776 1200 Phil Walker/ Clare Terlouw Capital MSL
Anna Davies Tel +44 207 307 5330 Justine Lamond
About XCounter AB
XCounter AB is a leader in the development of photon counting
detector and tomosynthesis-based 3D x-ray imaging technology. It
develops and manufactures high performance x-ray detector solutions
based on state of the art technologies for applications in the
medical, dental and industrial area.
In June 2010 XCounter completed the acquisition of Oy AJAT Ltd.,
a Finnish imaging company, complementing XCounter's photon counting
and 3D imaging competence with CdTe detector development and
production.
Headquartered in Stockholm, XCounter employs 28 people in its
facilities in Sweden and Finland.
For more detailed information, please visit: www.xcounter.se
This information is provided by RNS
The company news service from the London Stock Exchange
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