OSI Systems (NASDAQ:OSIS)
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From Jul 2019 to Jul 2024
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, received approximately $7 million in
contract orders from two undisclosed U.S. Government Agencies for its
Eagle Gantry, Gamma Radiographic Detection Systems (GaRDS) Gantry and
Secure 1000 systems. Delivery of the units will begin immediately.
Ajay Mehra, President of Rapiscan Systems, stated, “We
continue to grow our business with the U.S. Government. Our
comprehensive product mix and global reach enable us to tailor
protection solutions for a variety of environments."
Rapiscan Systems’ Eagle is a high-performance
6 MeV X-ray inspection system that rapidly and accurately inspects
containers and trucks at seaports and land border crossings. The Eagle's
high-energy X-ray imaging system can produce a high-resolution image of
a 20-foot container in less than 30 seconds. Even dense cargo can be
clearly imaged – dramatically reducing the
need for time consuming manual inspections.
The Rapiscan Gamma product line detects hidden contraband, including
weapons, explosives, weapons of mass destruction, drugs and undeclared
goods. The systems have an intrinsically lower radiation field when
compared to equivalent X-ray systems. They require a smaller operational
area and exclusion safety zone than other inspection systems. As with
the Eagle, Rapiscan Systems has deployed numerous GaRDS units to other
parts of the United States and other government customers around the
world.
The Company’s proprietary backscatter X-ray
technology is embedded within the Rapiscan Secure 1000 personnel
screener, a non-intrusive system designed to detect metallic and
nonmetallic threat objects. The unit enables security personnel to
detect ceramic, plastic, metallic, organic, and other contraband or
security threats. It also provides a comprehensive body search in
seconds, eliminating the need for intrusive and less-effective hands-on
body searches by security personnel.
About OSI Systems, Inc.
OSI Systems, Inc. is a diversified global developer, manufacturer and
seller of security and inspection systems, medical monitoring and
anesthesia delivery products, and optoelectronic-based components, as
well as a provider of engineering and manufacturing services. 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. OSI Systems 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 subsidiary companies, 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 contract with the U.S. Government.
The actual results may differ materially from those described in or
implied by any forward-looking statement. In particular, the
performance, timing, and delivery of the systems may not ultimately
remain in line with the company’s current
expectations. Other important factors are set forth in the
Securities and Exchange Commission filings of OSI Systems, Inc. All
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.