OSI Systems Receives $1.3 Million Contract from New Customer for Complete Range of Patient Monitoring Solutions
12 October 2009 - 11:00PM
Business Wire
OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated
provider of specialized electronic products for critical
applications in the Security and Healthcare industries, today
announced that its Healthcare division, Spacelabs Healthcare, has
received a contract from Thomas Memorial Hospital in Charleston,
West Virginia for a broad range of patient monitoring products. The
$1.3 million order received represents a new customer, converted to
Spacelabs from a major competitor. Systems are to be installed
throughout the hospital including the critical care, preoperative,
OR and outpatient surgery areas to provide comprehensive monitoring
of patients throughout the care cycle.
OSI Systems CEO Deepak Chopra, stated, “We are excited to
announce this contract award and look forward to working closely
with Thomas Memorial Hospital to implement their monitoring
requirements. Our ability to convert customers from our competitors
in these challenging market conditions underscores our business
model of being a leading global technology provider of patient
monitoring solutions. Overall we believe the monitoring market in
North America is beginning to show signs of improvement and we
maintain that as a result of the strategic initiatives undertaken
over the past year with modest revenue growth we expect Spacelabs
to experience significant margin expansion.”
About OSI Systems, Inc.
OSI Systems, Inc. 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. We combine more
than 30 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
Inc. 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 Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include information regarding the
company’s expectations, goals or intentions about the future,
including, the Company’s contract to deliver a broad range of
monitoring solutions to Thomas Memorial Hospital. The actual
results may differ materially from those described in or implied by
any forward-looking statement. In particular, the timing, and
delivery of the inspection systems may not ultimately remain in
line with the company’s current expectations. Other important
factors are set forth in the Securities and Exchange Commission
filings OSI Systems, Inc. All forward-looking statements speak only
as of the date made, and the company undertakes no obligation to
update these forward-looking statements.
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