OSI Systems Receives $5 Million Order for Electronic Components

Rhea-AI Summary

OSI Systems (NASDAQ: OSIS) has announced a new order worth approximately $5 million from a leading X-ray imaging OEM for electronic components. This order highlights the growing demand in the medical and industrial markets, as stated by CEO Deepak Chopra. OSI Systems is a vertically integrated manufacturer focusing on critical applications across various industries, including homeland security and healthcare.

Positive

• Secured a $5 million order for electronic components, indicating strong demand.
• CEO highlights growth potential in medical and industrial markets.

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 an order for approximately $5 million to provide electronic components to a leading X-ray imaging original equipment manufacturer (OEM).

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, "We are excited to receive this order and look forward to supporting this customer’s growing demand with its medical and industrial markets.”

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/20220118005408/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What recent order did OSI Systems receive?

OSI Systems received an order for approximately $5 million to provide electronic components to a leading X-ray imaging OEM.

How does the new order affect OSI Systems' market position?

The order demonstrates OSI Systems' ability to meet growing demand in medical and industrial markets, enhancing its market position.

What is the significance of OSI Systems' order in the healthcare sector?

The $5 million order reflects significant demand in the healthcare sector, particularly in X-ray imaging applications.

What does OSI Systems specialize in?

OSI Systems specializes in designing and manufacturing electronic systems for critical applications in homeland security, healthcare, defense, and aerospace.

Who is the CEO of OSI Systems?

The CEO of OSI Systems is Deepak Chopra.