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 www.osi-systems.com.
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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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181217005242/en/
Source: OSI Systems, Inc.
OSI Systems, Inc.
Vice President, Business