SOURCE: RadTek, Inc.

October 01, 2013 13:30 ET

RadTek, Inc. Contracts With uNeed Partners to Provide Engineering Consulting Services on Their Latest Project the Korea Particle Therapy Cancer Center

With Korea Particle Therapy Cancer Center Scheduled to Open and Financing of $750 million, Through Eton International, uNeed Partners Secures Agreement for RadTek, Inc. to Complete the Engineering Work Related to the Radiology Shielding Construction

LOUISVILLE, KY--(Marketwired - Oct 1, 2013) - RadTek, Inc. (OTCQB: RDTK), a leader in engineering of X-ray imaging, has secured a contract with uNeed Partners to provide the engineering advisory work in construction of their new Particle Therapy Cancer Center. RadTek Co., Ltd. in Korea, a majority shareholder of RadTek, Inc., has an ever evolving relationship with uNeed Partners and this affiliation has allowed RadTek, Inc. to secure a contract for these advisory services. uNeed has recently secured $750,000,000 dollars in financing for the construction of the Korea Particle Therapy Cancer Center and other projects and intends to use part of the financing to fund projects managed by RadTek, Inc.

Mr. Kyu-Myun Cho, President of uNeed states, "We trust the expertise of RadTek, Inc.'s staff and look forward to a long relationship with this up and coming company. With our recent funding secured from ETON Financing, we will take an aggressive posture in designing these new Cancer Centers and we expect RadTek, Inc. to be key partner in the design and construction phases. This will be coordinated with delivery of hardware constructed by RadTek Co., Ltd.

Additionally, as a publicly traded company in Korea, uNeed recently announced that they have secured a Memorandum of Understanding (MOA) to evaluate the possibility of an investment in RadTek Co., Ltd. This would have a significant impact on RadTek, Inc.'s ownership, as their current majority shareholder is RadTek Co., Ltd. 

With RadTek Co., Ltd.'s total solutions for radiation-related products to include Food Inspection System, Security Inspection System, radiation simulation, and RadTek, Inc.'s engineering work for radiation systems as a base, uNeed sees a great opportunity to expand their market share with customers similar to their Korea Particle Therapy Cancer Center that will utilize the proven technologies and skills of RadTek, Inc. and RadTek Co., Ltd. "Once uNeed saw the capabilities of RadTek Co., Ltd.'s solutions, they believed the market opportunities made it an ideal candidate for some form of partnership or acquisition," said President of uNeed Partners, Kyu-Myun Cho. He went on to say, "Then, when we learned of RadTek, Inc.'s US operations and engineering expertise, we knew that we needed to work with them on designing our new clinics." 

RadTek, Inc. is a designer of Radiation imaging equipment, system integration and engineering designers of Hardware and Software for the security and inspection fields. Formerly known as USChina Taiwan and founded in 2009, RadTek has key operations in Louisville, Kentucky. They are a US publicly traded company on the OTCQB system under the ticker RDTK.

Founded in 2001, RadTek Co., Ltd. of South Korea evolved from being a niche radiation technology manufacturer to a total solution provider for various sectors. RadTek has created a conglomeration of technology products to include mobile, handheld and industrial applications of radiation inspection, as well as a total solution provider for security and food safety application products. RadTek Co., Ltd. intends to expand their operations to the US in the near future. RadTek Co., Ltd. will bring key strategic alliances with government related companies and institutions such as Korea Telecom Express, Korea Customs Service, Korea Atomic Energy Research Institute, Korea Advanced Institute of Science and Technology as well as other potential partners in establishing their system integration engineering and radiation technology based product lines in the US. RadTek Co., Ltd. is the majority shareholder of RadTek, Inc.

About uNeed Partners Co., Ltd. (
uNeed Partners is a Management Service Organization introducing their management skills to hospitals/clinics in developed countries, new clinical technologies and the most advanced medical devices/equipment to local markets to increase competiveness and bring the best solutions to all customers. uNeed Partners is a Korean publicly traded company.

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