OSI Systems Receives $11 Million Order for Electronic Assemblies

Rhea-AI Summary

OSI Systems' Optoelectronics and Manufacturing division has secured an $11 million order to provide electronic sub-assemblies for a leading healthcare OEM manufacturer. The order demonstrates the company's ongoing partnership with medical technology providers and its capability to deliver specialized electronic components for advanced medical solutions.

Positive

• Secured new $11 million order for electronic sub-assemblies
• Strengthens position in healthcare technology sector

Negative

• None.

Insights

Financial Analyst

The $11 million order represents a modest but positive development for OSI Systems, accounting for approximately 1.5% of their annual revenue based on recent financials. While not transformative, this contract demonstrates continued strength in their Optoelectronics division and validates their position in the medical technology supply chain. The healthcare OEM partnership provides stable, recurring revenue potential and showcases OSI's manufacturing capabilities in high-precision electronic components. The medical technology sector offers higher margins compared to other industrial applications, making this a strategically sound market focus. The timing is particularly relevant given the healthcare sector's increasing investment in advanced medical devices and diagnostic equipment.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received an order for approximately $11 million to provide critical electronic sub-assemblies for a leading-edge healthcare original equipment manufacturer (OEM), known for innovative and specialized medical solutions.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, “We are pleased with this award from a leader in healthcare technology. This ongoing partnership highlights our commitment to quality and our ability to meet the needs of advanced medical technology providers.”

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 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/20241120748345/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What is the value of OSI Systems' (OSIS) latest electronic assemblies order?

OSI Systems received an $11 million order for electronic sub-assemblies from a healthcare OEM manufacturer.

Which division of OSI Systems (OSIS) received the healthcare equipment order in 2024?

The Optoelectronics and Manufacturing division of OSI Systems received the order for electronic sub-assemblies.

What type of products will OSI Systems (OSIS) supply in their latest healthcare order?

OSI Systems will supply critical electronic sub-assemblies for specialized medical solutions.