HAWTHORNE, Calif.--(BUSINESS WIRE)--
OSI Systems, Inc. (NASDAQ:OSIS), today announced that its security
division, Rapiscan Systems, a leading provider of advanced detection and
imaging solutions has been awarded a contract by the U.S. Department of
Homeland Security (DHS) Science and Technology Directorate (S&T) to
develop two separate systems as part of S&T's CanScan Program. Rapiscan
Laboratories, the R&D arm of Rapiscan Systems, secured the competitively
bid contract worth up to approximately $29 million with a combined
initial funding obligation of $3.6 million for the first phases of the
two development efforts.
The US Department of Homeland Security awarded Rapiscan the contract
based on Rapiscan's innovative development approach, which combines
separate inspection technologies and advanced threat detection software
to significantly improve the current state of cargo screening so that
threats are identified faster and more comprehensively. Rapiscan intends
to leverage its extensive and innovative R&D expertise and that of its
partners across various inspection modalities to develop the next
generation non-intrusive mobile and air cargo inspection systems. As a
part of the development program, the systems are expected to be capable
of automatically detecting and identifying multiple threats, including
but not limited to explosives, narcotics and chemical weapons in cargoes
entering the U.S. at land border crossings, air and maritime ports of
entry.
Ajay Mehra, President of Rapiscan Systems, stated, "These contracts will
leverage the unique combination of our team's experience and capability
in high-energy x-ray imaging and developing critical inspection
solutions. These systems along with the automatic detection algorithms
are expected to have threat detection and identification capabilities
that are significantly better than the current state of the art systems.
The innovative research at Rapiscan Laboratories continues to be at the
forefront of combating some of our country's most difficult security
challenges which threaten our national security."
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 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.
OSI Systems Inc
Ajay Vashishat
Vice President, Business
Development
310-349-2237
avashishat@osi-systems.com
Source: OSI Systems, Inc.
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