Dec 17, 2018

OSI Systems Receives Indefinite-Delivery/Indefinite-Quantity (IDIQ) Contract Valued at up to $450 Million for Patient Monitoring Solutions

HAWTHORNE, Calif.--(BUSINESS WIRE)--Dec. 17, 2018-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Healthcare division, Spacelabs Healthcare®, received a firm-fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) contract valued at up to $450 million from the Defense Logistics Agency, a combat support agency in the United States Department of Defense, to provide patient monitoring solutions, related accessories and training. The IDIQ contract has a five-year base term with a Government option to extend the term for an additional five years. The IDIQ contract provides the Company an opportunity to potentially receive delivery orders up to the value of the IDIQ award but does not guarantee any orders over the term of the contract.

“We are pleased to see the Department of Defense continue our longstanding relationship with this IDIQ funding vehicle that facilitates the potential procurement of our leading patient monitoring solutions and support to defense and civilian agencies,” said 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 select end product markets. For more information on OSI Systems or any of its subsidiary companies, visit 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.

Source: OSI Systems, Inc.

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