OSI Systems Receives $6 Million Order for Medical Sensors

Rhea-AI Summary

OSI Systems (NASDAQ: OSIS) announced that its Optoelectronics and Manufacturing division has secured a $6 million order to provide optical sensors for patient care devices. The order comes from a leading healthcare original equipment manufacturer (OEM), which is described as a long-standing customer.

Positive

• Secured new $6 million order for optical sensors
• Order from established customer indicates business relationship continuity

Negative

• None.

Insights

Medical Technology Analyst

The $6 million sensor order represents a modest win for OSI Systems' Optoelectronics division, but is relatively small compared to the company's annual revenue base of over $1.2 billion. While it demonstrates continued demand from existing customers in the healthcare segment, the impact on overall financial performance will be minimal. The optical sensors are critical components in patient monitoring devices, showing OSI's established position in the medical device supply chain. However, without details on delivery timeframes or profit margins, this single order is unlikely to materially affect near-term earnings. The continuation of business with a "long-standing customer" suggests stable recurring revenue but doesn't indicate significant growth acceleration.

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 $6 million from a leading healthcare original equipment manufacturer (OEM) to provide optical sensors for use in its patient care devices.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, “We are pleased to receive this order and look forward to supporting this long-standing customer.”

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/20241031194161/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) recent medical sensor order in 2024?

OSI Systems (OSIS) received a $6 million order for optical sensors from a leading healthcare OEM manufacturer.

Which division of OSI Systems (OSIS) received the medical sensor order?

The Optoelectronics and Manufacturing division of OSI Systems received the order for optical sensors.

What type of sensors did OSI Systems (OSIS) receive an order for?

OSI Systems received an order for optical sensors to be used in patient care devices.