30 Apr 2021 07:01
30 April 2021
7:01am
TRACKWISE DESIGNS PLC
("Trackwise" or the "Company")
Agreement with CathPrint AB
CathPrint AB selects Trackwise IHT for its next generation catheter technology
Trackwise Designs (AIM: TWD), a provider of specialist products using printed circuit technology, is pleased to announce it has signed a multi-year agreement (the "Agreement") with CathPrint AB, the Stockholm-based company with expertise in the development and manufacturing of medical device products. CathPrint is an existing Trackwise development revenue customer. Under this Agreement, development revenues are expected to continue over the next two years, and are then expected to be followed by larger production revenues over a further five years subject to agreement on pricing and specification.
CathPrint AB has developed CathPrint TechnologyÒ, a novel technology platform for the use of flexible printed circuit boards in advanced catheters. This Agreement is for the supply of Trackwise's IHT component parts for use in CathPrint's products. The use of IHT enables cost-efficient incorporation of electronic components within catheters, probes and tubing in contrast to today's typically handmade manufacturing.
Alongside Electric Vehicles and Aerospace, Medical is a key target market for Trackwise due to the weight and space saving properties of IHT alongside its reliability, functionality and ease of manufacture. The Company continues to explore significant potential customer opportunities in this sector.
Philip Johnston, CEO of Trackwise, commented: "We're delighted to be supporting CathPrint in its innovative work in catheter development and manufacturing. Today's Agreement demonstrates the wide applicability of IHT across diverse end-markets and the ability of our engineers to successfully meet the needs of those markets, underlining our confidence in the opportunity for Trackwise."
Bengt Kallback, CTO of CathPrint: "We have successfully cooperated with Trackwise to develop our technology platform and look forward to continuing our work with them in the commercialisation phase. Their unique competence in this area is key to our continued expansion."
Enquiries:
Trackwise Designs plc | +44 (0)1684 299 930 |
Philip Johnston, CEO | www.trackwise.co.uk |
Mark Hodgkins, CFO | |
finnCap Ltd | +44 (0)20 7220 0500 |
NOMAD and Broker | |
Ed Frisby / Tim Harper - Corporate Finance | |
Andrew Burdis / Barney Hayward- ECM | |
Alma PR | +44 (0)20 3405 0205 |
Financial PR and IR | |
David Ison / Caroline Forde / Josh Royston / Kieran Breheny |
Notes to editors
Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.
The full suite includes: Improved Harness Technology™ ("IHT") and Advanced PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid Multilayer products.
IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harness in a variety of industries.
The Company has three sites, located in Tewkesbury, Stevenage (following the acquisition of Stevenage Circuits Ltd in April 2020) and Stonehouse. It serves customers in Europe and North America.
Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk