OSI Systems' Healthcare Division Moving to New Washington Headquarters
17 September 2012 - 10:00PM
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, will
relocate its headquarters to Snoqualmie, Washington in a state of
the art 176,000 square-foot building that was recently acquired by
OSI Systems. The move is expected to be completed by next spring
and result in occupancy cost savings.
“We continue to seek opportunities to enhance our facilities
while simultaneously reducing our operating expenses in a
sustainable manner. The new headquarters in Snoqualmie provides a
significant upgrade from our current headquarters and at a lower
cost. We congratulate the division and the corporate asset
management team in successfully executing this real estate
transaction,” Deepak Chopra, CEO of OSI Systems commented.
The purchase price of the property was approximately $14 million
and was financed with an $11 million mortgage at an effective
annual interest rate of 2.2%.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and
manufacturer of specialized electronic system 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 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 the Company’s current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside the Company’s control, that may cause actual
results may differ materially from those described in or implied by
any forward-looking statement. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. The Company 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 these and other factors that
could cause the Company’s future results to differ materially from
any forward-looking statements, see the section entitled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended June 30, 2012 and other risks described in documents
subsequently filed by the Company from time to time with the
Securities and Exchange Commission.
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