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 www.osi-systems.com. News Filter: OSIS-G
Source: OSI Systems, Inc.
OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
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