Regulatory News

Diagnostics contract win with Ministry of Health in Latin America

Apr 03, 2014

3 April 2014

BATM Advanced Communications Limited
(“BATM” or “the Group”)

Diagnostics contract win with Ministry of Health in Latin America
Largest single contract to be awarded to diagnostics business to date

BATM Advanced Communications Limited (LSE: BVC; TASE: BATM), a leading provider of real-time technologies for the networked telecoms and medical laboratory equipment markets, is pleased to announce that the Group’s diagnostics business has been awarded a contract, valued initially at $1m, with the Group having already received the first purchase order for approximately $0.85m, by the Ministry of Health in a major country in Latin America to provide clinical chemistry instruments and reagents to laboratories throughout the country. This award represents the largest single contract to be won by the diagnostics business to date.

Awarded under a competitive bid, BATM will replace the incumbent supplier with its closed system immune diagnostic instruments and reagents to detect tumour markers. The Group’s solution was selected due to the ability to provide high-quality results in a more timely and cost-effective manner than those of its competitors, including the major incumbent. Shipments of the first order under this contract will commence this month and continue throughout the year. The Group expects to receive further orders in due course.

BATM’s diagnostics business is focused on developing more compact, high accuracy, cost effective products for small to mid-size laboratories, including advanced genomic solutions that are being introduced to the market. In particular, the Group is targeting emerging markets where many laboratories are mid-sized and dispersed in different localities – and hence require the solutions provided by the Group’s diagnostics business.

Dr Zvi Marom, Chief Executive Officer of BATM, said: “We are delighted to have been awarded this contract in Latin America – our most significant win to date in the diagnostics business. It reflects the strength of our strategy of focusing on developing countries as well as bundling the sale of our high performance instruments with high sensitivity reagents at a cost effective offering compared with existing solutions. We look forward to building on this success and continuing to grow this business. I believe that, in due course, this strategy will fit certain demand in what are called developed countries that suffer from the growing burdens of the health budget.”


Enquiries

BATM Advanced Communications
Dr Zvi Marom, Chief Executive Officer +972 9866 2525
Ofer Bar-Ner, Chief Financial Officer

finnCap
Stuart Andrews, Henrik Persson +44 20 7220 0500

Shore Capital
Pascal Keane +44 20 7408 4090

Luther Pendragon
Harry Chathli, Claire Norbury, Amelia Bullock-Muir +44 20 7618 9100