OSI Systems Awarded $5 Million Contract to Develop Automated Detection of Biosecurity Risk Items
27 July 2020 - 10:30PM
Business Wire
OSI Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ:
OSIS) today announced that its Security division was awarded a
contract from the Commonwealth Government of Australia represented
through the Department of Agriculture, Water and the Environment
(“DAWE”) for approximately $5 million for the supply of Rapiscan®
RTT®110 hold baggage screening systems and the development and
delivery of software algorithms for the automated detection of
biosecurity risk items.
The Rapiscan® RTT®110 systems are expected to be installed at
Melbourne International Airport as well as at certain international
mail gateway facilities in Melbourne and Sydney. The systems are
planned to be used to scan both inbound mail and baggage for
biosecurity risk items such as animals, animal products, seeds and
fruits and vegetables. Additionally, the Company is developing
proprietary package tracking technology to facilitate
identification and control of suspected items.
DAWE Director, Pathway Capability, Ms. Jessica Mitchell,
commented, “The ability to detect biosecurity risk items at our
borders plays a critical role in preventing some of the world’s
most severe pests and diseases from entering Australia. To date,
excellent progress has been made in trials with Rapiscan Systems
for the automated detection of biosecurity risk items, and we are
excited to move to the next phase seeing units deployed into live
operation at key strategic locations to assist our team as we clear
millions of packages, parcels and baggage entering Australia
through our airports and mail centers.”
OSI Systems’ Chairman and CEO, Deepak Chopra, commented, "We are
honored to be selected to work with DAWE on the implementation of
this development program. The program highlights the versatility of
the Rapiscan® RTT®110 as it is able to simultaneously scan packages
and baggage with our proprietary algorithms for biosecurity threats
while continuing to operate in accordance with global standards for
air cargo screening.”
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 selective end product
markets. For more information on OSI Systems or its subsidiary
companies, visit www.osi-systems.com. News Filter: OSIS-G
Forward-Looking Statements
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 OSI Systems’ current
expectations, beliefs, and projections concerning matters that are
not historical facts. Forward-looking statements are not guarantees
of future performance and involve uncertainties, risks,
assumptions, and contingencies, many of which are outside OSI
Systems’ control and which may cause actual results to differ
materially from those described in or implied by any
forward-looking statements. Undue reliance should not be placed on
forward-looking statements, which are based on currently available
information and speak only as of the date on which they are made.
OSI Systems 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 factors that could cause OSI Systems’ future results
to differ materially from any forward-looking statements, see the
section entitled "Risk Factors" in OSI Systems’ most recently filed
Annual Report on Form 10-K and other risks described therein and in
documents subsequently filed by OSI Systems from time to time with
the Securities and Exchange Commission.
SOURCE: OSI Systems, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20200727005236/en/
OSI Systems, Inc. Ajay Vashishat Vice President, Business
Development 310-349-2237 avashishat@osi-systems.com
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