PETsys Electronics, Chinese customer strike US$1.1 mln deal

A Portuguese developer of medical hardware and software, PETsys Electronics SA, has agreed to supply a Chinese buyer with 1 million euros (about US$1.1 million) worth of application-specific integrated circuits this year, the Portuguese trade and investment agency, AICEP, has announced.

The written announcement omits the identity of the Chinese buyer.

The sale is an outcome of the development by the Portuguese start-up of technology useful for the early detection of cancer, AICEP says.

Once the National Medical Products Administration in China has given permission for the use there of PETsys Electronics products, a sustained increase in sales should follow over the next few years, AICEP says.