Detection Technologies Plc inside info 15 March 2023 at 13:45 (EET)

Supplement to the firm announcement, inside info: Detection Technologies acquires Haobo Imaging and invests in TFT technologies to double its total addressable marketplace

Detection Technologies Plc supplements its firm announcement published on 15 March 2023 with the following info: 2021-2022 essential figures describing profit improvement and monetary position of Haobo Imaging, and determination of the buy price tag and its estimated publication. The supplemented firm announcement is beneath.

Detection Technologies Plc has now signed an agreement to obtain Shanghai Haobo Imaging Technologies Co., Ltd., an X-ray flat panel detector provider, to pretty much double its total addressable marketplace. This acquisition enables Detection Technologies to enter the TFT (Thin-Film Transistor) flat panel detector marketplace segment, which is estimated to represent more than 40% of the total digital X-ray detector marketplace of EUR three.1 billion by 2025. The primary application for TFT flat panel detectors is in healthcare X-ray imaging, and there is also expanding demand in industrial and veterinary.

Haobo Imaging has strong solution platforms and powerful knowhow in static and dynamic TFT flat panel detectors primarily based on a-Si (Amorphous Silicon) and IGZO (Indium Gallium Zinc Oxide) technologies. The firm was founded in 2018 and is situated in Shanghai, China.

“The acquisition marks a cornerstone in the DT-2025-tactic. We have been pioneering the line-scan and CT (computed tomography) detector options and are constructing CMOS (complementary metal oxide semiconductor) flat panel and photon-counting detector solution portfolios. Now, we have taken a substantial step to cover even a a great deal wider marketplace. In the future, we will be in a position to service the complete spectrum of the international digital X-ray imaging markets,” says Hannu Martola, President and CEO of Detection Technologies.

“Our supplying will cover all digital X-ray imaging detector technologies, and we will have extensive X-ray flat panel competence in each Finland and China just after technologies transfer. We see the acquisition as an enabler for reaching our development targets and lengthy-term achievement. This strategic move creates consumer and technologies synergies to be exploited, and there are no overlaps in the existing supplying.”

The enterprise worth of Haobo Imaging is about EUR 14 million. In the 1st phase, Detection Technologies will obtain 90% of the shares in Haobo Imaging from its founders and primary owner, which is Guangzhou Haozhi Imaging Technologies Ltd., a Haozhi Capital Ltd. Group firm. The founders and management of Haobo Imaging will continue to hold ten% of the shares. Detection Technologies has agreed an solution to obtain the shares of the Haobo Imaging management when specific overall performance targets are met.

In the monetary period 1 January – 31 December 2022, net sales of business enterprise to be acquired totaled EUR three. million (2021: three.). Operating margin was five.two% (two.three%). At the finish of 2022, the balance sheet of Haobo Imaging was EUR two.7 million with an equity of EUR 1.four million. Apart from feasible regular operating capital products, no material liabilities will transfer in the acquisition.

The acquired business enterprise is estimated to be earnings good in 2025.The acquisition will be financed with current money and a new term loan. In addition, Detection Technologies has agreed on an improve in the current revolving credit line.

The acquisition is estimated to be closed by the finish of June 2023. The final buy price tag will be determined at the time of the closing. At the moment, it is not feasible to accurately assess the price tag.

“In the coming two to 3 years, we will embark on an accelerated improvement path. We strategy to invest in building and introducing new TFT flat panel detector options to existing and new clients. This improvement path will come at a expense and will have an influence on our relative profitability more than subsequent 3 years.”

Haobo Imaging is an imaging technologies firm that styles and produces a-Si, IGZO and CMOS X-ray flat panel detectors. Its options comprise each hardware and computer software. The firm has been granted various patents in China. It has a effectively-established consumer base, and it employs about 40 specialists in Shanghai.

“Detection Technologies is a leader in the line scan and CT markets, and with each other we have what it requires to develop into a leader in the international digital X-ray flat panel detector markets. I personally and our complete group are excited to join Detection Technologies,” says Wei Chunlin, CEO of Haobo Imaging.

Additional info

President and CEO Hannu Martola will be accessible for interviews and additional info on the release date at 14:00-15:00 (EET).

Hannu Martola, President and CEO
+358 500 449 475, hannu.martola@deetee.com

Nordea is the company’s Certified Advisor below the Nasdaq Initial North GM guidelines.

Detection Technologies is a international provider of X-ray detector options and solutions for healthcare, safety, and industrial applications. The company’s options variety from sensor elements to optimized detector subsystems with ASICs, electronics, mechanics, computer software, and algorithms. It has internet sites in Finland, China, France, and the US. The company’s shares are listed on Nasdaq Initial North Development Industry Finland below the ticker symbol DETEC.

Distribution: Nasdaq Helsinki, essential media, www.deetee.com

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