OSI Systems Receives $35 Million Order for Electronic Assemblies

Rhea-AI Summary

OSI Systems, Inc. (NASDAQ: OSIS) announced a significant multi-year order valued at approximately $35 million for electronic assemblies used in patient care applications. This order is one of the largest in the history of the Company’s Optoelectronics and Manufacturing division. CEO Deepak Chopra emphasized the customer's continued trust and commitment, which reinforces OSI's growth in critical healthcare technology delivery.

Positive

• Received a multi-year order worth approximately $35 million.
• Order is one of the largest in the division's history, indicating strong demand.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received a multi-year order for approximately $35 million to provide electronic assemblies for use in patient care applications.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, “We appreciate this customer’s trust over the past several years and newly demonstrated commitment with this long-term supply award, which is one of the largest orders received in the division’s history.”

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/20220321005393/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What recent contract has OSI Systems secured?

OSI Systems announced a multi-year contract valued at approximately $35 million for electronic assemblies for patient care.

How much is the recent order worth for OSI Systems?

The recent order received by OSI Systems is valued at approximately $35 million.

Who announced the recent order for OSI Systems?

The announcement was made by OSI Systems, Inc., specifically by CEO Deepak Chopra.

What is the significance of the recent order for OSI Systems?

The order is one of the largest in the history of OSI Systems' Optoelectronics and Manufacturing division.