C-RAD secured an order for Catalyst and Sentinel systems from two Chinese customers. The delivery will be contingent on C-RAD receiving regulatory approval for sales of the Catalyst system in China. The order has a value of approximately 3 MSEK.
C-RAD is working in China with direct sales and a distributor, Beijing HGPT Technology & Trade Co, to market its products. During the fourth quarter of the fiscal year C-RAD has restructured its sales organization for the Asian market. A new position has been created and a dedicated sales manager has been appointed to support the Chinese distributor. Markus Braun, who is in charge of the Asian organization, is focusing on the activities of the sales network outside China.
C-RAD has applied to the China FDA for approval of its Catalyst systems; this process is still underway and certification is expected to be granted soon. The Sentinel system has already been approved for sales in China.
“The Asian market showed a slow start in the second half of 2015, but accelerated quickly and surprised us with a strong finish,” says Tim Thurn, CEO of C-RAD. “Beside the order received from China, two additional systems have been ordered from the distributor in Japan. Orders from Korea and Thailand have been booked as well. Asia alone showed an order intake of around 10 MSEK in Q4. We are pleased with the performance in the other sales regions as well.”
About C-RAD
C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. End users are radiation therapy clinics worldwide. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. Employees currently number 40. C-RAD ’ s business originates from research and development at Karolinska Institutet in Solna, Sweden. Sales of the company ’ s first product, the C-RAD Sentinel TM , started in 2007. Cooperation agreements have been signed with Elekta (Sweden), Varian (USA) and IBA (Belgium). C-RAD is represented by distributors specialized in radiation therapy on major markets. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. Cyrpa International SPRL, a Franco-Belgian laser company, is a wholly owned subsidiary whose operations are being integrated. C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit www.c-rad.com .
For further information:
Tim Thurn, CEO C-RAD AB, Phone +46-18-666930, Email investors@c-rad.com
The above information is price-sensitive and must therefore be disclosed under the Securities Market Act (2007:528).
