Kromek receives $5.0m under agreement with Siemens Healthineers

Further to the Company’s announcement of 30 January 2025, Kromek Group plc (AIM: KMK), a global detection company delivering best-in-class solutions for the advanced imaging and CBRN detection markets, is pleased to announce that it has received $5.0m as the second payment installment under its Enablement Agreement with Siemens Medical Solutions USA, Inc. (“Siemens Healthineers”).

The receipt of this payment follows the successful delivery of certain milestones by Kromek under the Enablement Agreement.  Including this payment, the Company has received $30.0m to date under the Enablement Agreement. The remaining aggregate payments of $7.5m are payable over the next three and a half years, with the third installment expected to be received in the Company’s financial year to 30 April 2027.

Arnab Basu, Chief Executive Officer of Kromek, said:

We have continued to successfully deliver on our commitments under our landmark multi-year agreement with Siemens Healthineers, which is progressing as scheduled. To date, we have received a total of $30m, which is transformational for our business. Alongside supporting the delivery of various milestones under the agreement, it will significantly strengthen our balance sheet and provide a robust foundation for sustainable growth.