OSI Systems (NASDAQ:OSIS)
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OSI Systems, Inc. (Nasdaq:OSIS), a vertically-integrated provider of
specialized electronic products for critical applications in the
security and healthcare industries, announced today that its Security
division, Rapiscan Systems, has received a contract for approximately
$2.0 million from its Chinese distributor, Ryan Security Technologies,
Ltd. for its Rapiscan 500 series baggage and parcel inspection systems.
The systems are intended to be installed in and around Beijing for use
during the upcoming Olympic and Para-Olympic Games, making Rapiscan
Systems the primary western supplier of X-ray scanning equipment for the
events.
Ajay Mehra, President of Rapiscan Systems, stated, “Rapiscan
is very pleased to continue our long-standing relationship with the
Olympic and Para-Olympic Games. While we have been working with
high-profile international sporting events for years, this announcement
is unique in that it demonstrates the strides we are making in garnering
market share in the rapidly expanding Chinese security market.”
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer
of specialized electronic systems and components for critical
applications. The Company sells its products in diversified markets,
including homeland security, healthcare, defense and aerospace. The
Company has more than 30 years of experience in electronics engineering
and manufacturing and maintains offices and production facilities
located in more than a dozen countries. It implements a strategy of
expansion by leveraging its electronics and contract manufacturing
capabilities into selective end product markets through organic growth
and acquisitions. For more information on OSI Systems, Inc. or any of
its divisions, visit www.osi-systems.com.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc. is a leading supplier
of high quality security inspection solutions utilizing X-ray and
gamma-ray imaging, and advanced threat identification techniques such as
neutron and diffraction analysis. The company’s
products are sold into four market segments; Baggage and Parcel
Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and
People Screening. The company has an installed base globally of more
than 50,000 security and inspection systems. The Rapiscan Systems
product line is manufactured at four locations and supported by a global
support service network. For more information on Rapiscan Systems,
please visit www.rapiscansystems.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include information regarding the Company’s
expectations, goals or intentions about the future, including the Company’s
predictions with regard to the prospective use and performance of its
Rapiscan 500 series of baggage and parcel inspection systems. The actual
results may differ materially from those described in or implied by any
forward-looking statement. Other important factors are set forth in our
Securities and Exchange Commission filings. All forward-looking
statements speak only as of the date made, and we undertake no
obligation to update these forward-looking statements.