OSI Systems Receives Contracts Valued at up to $7 Million from U.S. Domestic Nuclear Detection Office
11 October 2011 - 11:05PM
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 security division, Rapiscan Systems, has been
awarded multiple Exploratory Research Program contracts by the U.S.
Department of Homeland Security (DHS) Domestic Nuclear Detection
Office (DNDO). By conducting transformational research and
development initiatives, DNDO’s objective is to enlist technology
leaders to advance the country’s nuclear materials detection
capabilities. With its leading scientists and engineers, Rapiscan
has secured multiple contracts that are incrementally funded for a
total obligated value of $2.7 million with additional options that
could be exercised for a total value of up to $7 million.
Rapiscan will support the DNDO Global Nuclear Detection
Architecture mission of countering nuclear terrorism by developing
algorithms, detectors and combining multiple signatures for better
detection of special nuclear material threats.
Ajay Mehra, President of Rapiscan Systems, stated, “These
contracts require a unique combination of experience in high-energy
x-ray imaging, as well as nuclear, mechanical and electrical
engineering that our team possesses. When successfully completed,
these threat detection and verification technologies will provide
additional inspection capabilities that help protect our nation
from weapons of mass destruction being smuggled across borders. The
innovative research at Rapiscan Laboratories, our R&D arm,
continues to be at the forefront of combating some of this
country’s most serious security threats.”
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. News Filter:
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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 contracts to provide solutions to the
Security industry. The actual results may differ materially from
those described in or implied by any forward-looking statement.
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