OSI Systems Awarded 10-Year Contract for Cargo Turnkey Screening in Uruguay

Rhea-AI Summary

OSI Systems, Inc. has signed a 10-year contract with Uruguay's Ministry of Economics and Finance for a turnkey screening solution at ports and borders. The company will deploy high-energy vehicle inspection systems and provide training and support. CEO Deepak Chopra is optimistic about the partnership, aiming to improve customs clearance processing in Uruguay. The company has successful inspection programs with international customs, border, and port authorities, enhancing public safety and increasing customs declaration accuracy.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division has entered into a 10-year contract to provide a turnkey screening solution to Uruguay’s Ministry of Economics and Finance for customs screening applications at ports and borders. The Company is expected to deploy and integrate EAGLE® T60 high-energy, trailer-mounted vehicle inspection systems, perform security screening and remote image analysis utilizing its proprietary CertScan® integration platform, and provide hands-on operator and management training and maintenance, service and support.

OSI Systems CEO Deepak Chopra commented, "We are excited to add another important customer to our roster of turnkey screening programs and cargo inspection infrastructure initiatives. Through this partnership, we are bringing our critical operational expertise and advanced technology security solutions to Uruguay, which are designed to provide efficiency for customs clearance processing at ports and borders. We are committed to assisting Uruguay emerge as a benchmark in regional customs operations with this initiative.”

The Company has turnkey border and port inspection programs in operation with multiple international customs, border, and port authorities. These turnkey inspection programs have proven highly successful, improving public safety and security and increasing the accuracy of customs declarations. Under these programs, the Company, through its S2 Global business, typically manages cargo scanning equipment, supervises inspection site construction and network design, and trains local staff to analyze data on the CertScan platform. This platform integrates images and data like cargo manifests, biometrics, container and vehicle numbers, and customs declarations.

About OSI Systems

OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems’ future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231003364657/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.