OSI Systems Receives $4 Million Order for Patient Monitoring and Diagnostic Cardiology Solutions

Rhea-AI Summary

OSI Systems announced a $4 million order from a U.S.-based hospital through its Healthcare division, Spacelabs Healthcare. The order includes advanced patient monitoring products, such as Xhibit Central Stations, Qube Patient Monitors, and Spacelabs SafeNSound patient management software. CEO Deepak Chopra expressed pride in providing these essential healthcare solutions to a prominent medical center. OSI Systems specializes in electronic systems for critical applications across various industries, boasting over 40 years of experience.

Positive

• Received a $4 million order for advanced patient monitoring products.
• Supply includes key products like Xhibit Central Stations and Qube Patient Monitors.
• CEO expresses confidence in the quality of healthcare solutions provided.

Negative

• None.

OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Healthcare division, Spacelabs Healthcare^®, received an order valued at approximately $4 million to provide a suite of healthcare products and related accessories to a U.S. based hospital. The Company will provide Xhibit^® Central Stations with XTR Telemetry, Qube^® Patient Monitors, Spacelabs SafeNSound^TM patient management software, and Xprezzon^® Central Stations including the Sentinel^® Cardiology Information Management System.

“We are pleased to receive this order and proud to provide our advanced patient monitoring and diagnostic cardiology products to this prominent medical center,” commented Deepak Chopra, OSI Systems’ Chairman and CEO.

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.

SOURCE: OSI Systems, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210222005318/en/

FAQ

What is the value of the recent order announced by OSI Systems?

The recent order announced by OSI Systems is valued at approximately $4 million.

What products will OSI Systems provide to the U.S. hospital?

OSI Systems will provide Xhibit Central Stations, Qube Patient Monitors, and Spacelabs SafeNSound patient management software.

Who commented on the order received by OSI Systems?

Deepak Chopra, the Chairman and CEO of OSI Systems, commented on the order.

Which division of OSI Systems received the new order?

The Healthcare division, Spacelabs Healthcare, received the new order.

What is the primary focus of OSI Systems?

OSI Systems specializes in the design and manufacture of electronic systems for critical applications in healthcare, homeland security, defense, and aerospace.