OSI Systems Awarded an IDIQ Contract Valued at up to $293 Million
• Receives $19 Million Initial Delivery Order from U.S. Customs and Border Protection for Cargo and Vehicle Inspection Systems
HAWTHORNE, Calif. - OSI Systems, Inc. (NASDAQ: OSIS) today announced that its security division, Rapiscan Systems, was selected as a supplier on a 5-year Indefinite Delivery Indefinite Quantity (IDIQ) contract by the U.S. Customs and Border Protection (CBP) agency valued at up to $293 million to provide Medium Energy Cargo and Vehicle Inspection (CVI) Systems. Rapiscan is one of four suppliers selected by CBP for this IDIQ award. The Company also received its first significant delivery order from this IDIQ contract valued at approximately $19 million to provide one of the Company's newest and most advanced Mobile Detection systems - the Eagle® M25 Medium Energy Mobile CVI System.
OSI Systems' CEO, Deepak Chopra, stated, "We are excited to receive this IDIQ and the first delivery order and look forward to supporting CBP with its mission to secure our borders. Our Eagle CVI systems are available in mobile and fixed configurations and deployed worldwide in a broad array of applications."
OSI Systems' line of Eagle cargo and vehicle inspection systems are used by customs agencies, military organizations and homeland security worldwide because they provide outstanding image quality and threat detection, while maximizing operational effectiveness. Eagle cargo and vehicle inspection systems use proprietary transmission X-ray technology that is able to penetrate well beyond the surface of a container or vehicle to provide comprehensive detection of threats.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products and provides related services in diversified markets, including homeland security, healthcare, defense and aerospace. The Company has more than 30 years of experience in electronics engineering and manufacturing and maintains offices and production facilities in more than a dozen countries. The Company implements a strategy of expansion by leveraging its electronics and contract manufacturing capabilities into selective end product markets through organic growth and acquisitions. For more information on OSI Systems, Inc. or any of its subsidiary companies, visit www.osi-systems.com.
OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com
Source: OSI Systems, Inc.
OSI Systems, Inc.
12525 Chadron Avenue , Hawthorne, CA 90250
