Jul 27, 2020

OSI Systems Awarded $5 Million Contract to Develop Automated Detection of Biosecurity Risk Items

HAWTHORNE, Calif..--(BUSINESS WIRE)--Jul. 27, 2020-- OSI Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ: OSIS) today announced that its Security division was awarded a contract from the Commonwealth Government of Australia represented through the Department of Agriculture, Water and the Environment (“DAWE”) for approximately $5 million for the supply of Rapiscan® RTT®110 hold baggage screening systems and the development and delivery of software algorithms for the automated detection of biosecurity risk items.

The Rapiscan® RTT®110 systems are expected to be installed at Melbourne International Airport as well as at certain international mail gateway facilities in Melbourne and Sydney. The systems are planned to be used to scan both inbound mail and baggage for biosecurity risk items such as animals, animal products, seeds and fruits and vegetables. Additionally, the Company is developing proprietary package tracking technology to facilitate identification and control of suspected items.

DAWE Director, Pathway Capability, Ms. Jessica Mitchell, commented, “The ability to detect biosecurity risk items at our borders plays a critical role in preventing some of the world’s most severe pests and diseases from entering Australia. To date, excellent progress has been made in trials with Rapiscan Systems for the automated detection of biosecurity risk items, and we are excited to move to the next phase seeing units deployed into live operation at key strategic locations to assist our team as we clear millions of packages, parcels and baggage entering Australia through our airports and mail centers.”

OSI Systems’ Chairman and CEO, Deepak Chopra, commented, "We are honored to be selected to work with DAWE on the implementation of this development program. The program highlights the versatility of the Rapiscan® RTT®110 as it is able to simultaneously scan packages and baggage with our proprietary algorithms for biosecurity threats while continuing to operate in accordance with global standards for air cargo screening.”

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.

SOURCE: OSI Systems, Inc.

OSI Systems, Inc. 
Ajay Vashishat
Vice President, Business Development

Source: OSI Systems, Inc.