OSI Systems Receives Contracts Valued at up to $7 Million from U.S. Domestic Nuclear Detection Office

Awards Mark Company's Continuing Contributions toward Next Generation of Weapons of Mass Destruction Detection

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the Security and Healthcare industries, today announced that its security division, Rapiscan Systems, has been awarded multiple Exploratory Research Program contracts by the U.S. Department of Homeland Security (DHS) Domestic Nuclear Detection Office (DNDO). By conducting transformational research and development initiatives, DNDO's objective is to enlist technology leaders to advance the country's nuclear materials detection capabilities. With its leading scientists and engineers, Rapiscan has secured multiple contracts that are incrementally funded for a total obligated value of $2.7 million with additional options that could be exercised for a total value of up to $7 million.

Rapiscan will support the DNDO Global Nuclear Detection Architecture mission of countering nuclear terrorism by developing algorithms, detectors and combining multiple signatures for better detection of special nuclear material threats.

Ajay Mehra, President of Rapiscan Systems, stated, "These contracts require a unique combination of experience in high-energy x-ray imaging, as well as nuclear, mechanical and electrical engineering that our team possesses. When successfully completed, these threat detection and verification technologies will provide additional inspection capabilities that help protect our nation from weapons of mass destruction being smuggled across borders. The innovative research at Rapiscan Laboratories, our R&D arm, continues to be at the forefront of combating some of this country's most serious security threats."

About OSI Systems, Inc.

OSI Systems, Inc. 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. We combine more than 30 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 Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the company's expectations, goals or intentions about the future, including the Company's contracts to provide solutions to the Security industry. The actual results may differ materially from those described in or implied by any forward-looking statement.

OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com

Source: OSI Systems, Inc.

News Provided by Acquire Media