Rayence (www.rayence.com), a leading supplier of digital X-ray sensors, announced today that it has signed a five-year strategic supply agreement with a Chinese healthcare firm (whose name is classified under a non-disclosure agreement) to provide dental CMOS and IOS (Intraoral Sensor) to rapidly growing Chinese dental market. The deal is expected to generate KRW 34.5 billion in revenues.
The new agreement is a significant expansion from the previous deal made in last year with the same partner. Rayence initially agreed to provide KRW 14.6 billion worth of dental CMOS for a five-year term. Yet under the new contract, the volume of supply will increase three-fold with a new product line-up including IOS.
Rayence projects that its dental CMOS sales will continue to surge as Chinese dental market shows an uninterrupted growth this year. The market is now showing 20 percent annual growth on average and the demand for dental CBCT is likely to surge continuously as consumer’s demands for implants and aesthetic therapies are on the rise.
Observing this market trend, the company is planning to expand its strategic ties in China with local dental manufacturers who are looking for a reliable supplier with a premium image quality.