Light Science Technologies Holdings PLC (AIM:LST, FRA:9FD), the AIM-listed technology and manufacturing group, has secured a new contract through its contract electronics manufacturing (CEM) division with an unnamed UK-headquartered international healthcare devices company.
The first order under the agreement is valued at approximately £160,000, with annual orders potentially reaching £650,000, subject to the contract proceeding as expected.
The unnamed customer specialises in medical devices and consumables used in acute and community care settings, with products spanning infection prevention, clinical waste management and surgical procedures.
LSTH's CEM division, operated through subsidiary UK Circuits and Electronics Solutions, will manufacture components for a client it describes as having an established international footprint and strong regulatory credentials.
The company said the win supports its strategy of targeting higher-margin contracts across defence, medical and healthcare markets, while reducing concentration risk across its customer base.
Chief executive Simon Deacon said the deal further demonstrated "the momentum building within the Group" and that the company remained focused on converting its pipeline into long-term partnerships.