Peter Rowland managing director Micro-X, Charlie Hicks Carestream business director and Derek Rogers production manager a DRX Revolution Nano mobile x-ray machine. Picture: Brenton Edwards/AAP.
SA Business Micro-X eyes next big idea
Valerina Changarathil, The Advertiser
October 4, 2017 6:27pm
TONSLEY company Micro-X has started developing a second x-ray-based product to boost the safety of Australian defence and security personnel after starting shipment of its lightweight x-ray system for further US testing.
Micro-X’s first offering — the first carbon nanotube-powered x-ray system in the world — will undergo final testing phases in the US before eventually being sold as Carestream Health’s DRX-Revolution NANO system.
Micro-X partnered with international x-ray systems giant Carestream — also a 7.9 per cent shareholder — on the system, which will be sold by Carestream worldwide.
Micro-X designed the device — a mobile cart weighing 95 kgs compared to the 500kg plus average x-ray unit — incorporating the tube, ‘arms’ and Carestream’s imaging, detectors and software.
The facility at Tonsley — the former home of Mitsubishi — will produce four of the portable machines a day from 2019, expected to sell for about $US150,000 ($200,000).
The initial launch will target the US, Europe and Australia.
Managing director and Micro-X’s single largest shareholder Peter Rowland said the company was now gearing up to raise capital and invest in a second “exciting product”, which would be developed and sold as its own.
“We took on Holden staff in the early days because I wanted to bring that automotive culture in.
“The real sadness about losing our auto industry is that it is our university of manufacturing ... in the rigour of quality, training and documentation that it brings in.
“We are now looking at using similar x-ray technology to help defence and security personnel.
“We have worked with the Defence department on a specific need they had to make explosives detection safe and that’s where we are going next,” he said.
Key defence and police personnel will be given a demonstration of the technology by the end of this month with the first prototype likely to be in place by next October.
Micro-X secured a one-year, $3 million loan from the State Government to move to SA from Victoria in October 2015.
It listed on the ASX in late 2015 after issuing 40 million shares at 50c each, raising $20 million.
Health Industries Minister Martin Hamilton-Smith said the company had raised $42 million since it listed on the sharemarket.
Micro-X has its annual meeting in Victoria on October 24 where it is also seeking shareholder approval for a 10 per cent share placement.
This could see more investors coming on board the company, which raised $10 million in April and welcomed BAE Systems’ global veteran Jim McDowell to its board in September.
Shares in Micro-X closed 5.3 per cent higher at 40c. [email protected]
MX1 Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
