BATM bounces as it launches new coronavirus testing kits
The new tests are already being shipped to several customers in Europe, with production being ramped up to fulfil more orders
Company
LON:BVC
BATM Advanced Communications Ltd is a leading provider of real-time technologies for networking and cyber security solutions and for bio-medical and bio-waste treatment solutions via its two operating divisions. The company's disruptive, transformative technology is backed by strong intellectual property and patents, which is the foundation for the development of its market-leading, innovative and cost-effective solutions.
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The new tests are already being shipped to several customers in Europe, with production being ramped up to fulfil more orders
The group expects its Bio-Medical division to perform well during the global lockdown period and the Networking & Cyber division to experience a temporary slowdown
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The order from a European government is expected to be completed in the second half of 2020
BATM hopes to have a product with regulatory sign-off in the form of CE mark that’s ready to ship in three to four months
As a result of the improved performance, CEO Zvi Marom said the company had entered 2020 with a “substantially higher” order backlog than the previous year
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The kit has undergone testing by several central laboratories and hospitals
The new order takes the total contracted revenue for the deal to over US$18mln
The deal will see the company's treatment solution installed in a poultry processing facility in the Middle East
Under the agreement, Ador will deliver its new NATlab reader and cartridges for the identification of meningitis in the second half of 2020
The company won a competitive tender process to land the contract with an unnamed Taiwanese food conglomerate
"We continue to receive increasing demand for our cyber solution and expect more orders this year," said Zvi Marom, the CEO of BATM
“Our NFV ecosystem is designed to support an entirely virtualised network infrastructure, which will also be central to the implementation of 5G technologies and running applications such as to enable the Internet of Things."
BATM’s chief executive officer, Zvi Marom said "we expect to report good growth for full year 2019, in line with the Board's expectations”
"We are pleased that this transaction has been successfully concluded and that we have generated additional value from this legacy asset," said chief executive Dr Zvi Marom.
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The new ultra-high capacity cloud platform will allow network operators to open their networks to “a new ecosystem and value chain, such as internet-of-things applications”
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