Quoted Text

OSI Systems Chief Executive Officer Joins US Presidential Visit to India

HAWTHORNE, Calif.–(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 Deepak Chopra, Chairman and CEO, was selected to accompany US President, Barack Obama, to Mumbai and attended the US India Business Entrepreneurship meeting, which was held by the US India Business Council (US IBC). The goal of the meeting was to promote further trade between US and India.

Deepak Chopra, OSI Systems President and Chief Executive Officer, stated, “I am honored to be selected to play a role in this very important cause. Currently the trade between US and India is only one tenth of the amount of trade between US and China. There is substantial opportunity to improve the trade relations with India for mutual economic gain.”

The US India Business Council is a business advocacy organization representing America’s top companies investing in India, joined by global Indian companies, with an aim to deepen trade and strengthen commercial ties.

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 http://www.osi-systems.com. News Filter: OSIS-G

OSI Systems Inc
Ajay Vashishat
Vice President, Business Development
310-349-2237

Quoted Text

Rapiscan is a global security company that has systems being utilized, according to its web site, "at airports, government and corporate buildings, correctional and prison facilities, postal facilities, military zones, sea ports and border crossings." Their products are deployed in locations including Pakistan (where mobile units are used in combat zones) and airports around the world. As reported on CNN, Rapiscan received $25.4 million from the Transportation Security Administration (TSA) by way of the American Recovery and Reinvestment Act (i.e., the Stimulus Bill), to produce 150 new full-body scanners to be used at airports across the United States. Peter Kant, a vice president at Rapiscan, said that the government has given the TSA the green light to spend up to $173 million on new scanners, which could lead to the emplacement of hundreds of such devices in the near future. Interestingly, the $25.4 million tendered to Rapiscan for the first 150 scanners was formally awarded in September 2009, well ahead of the Christmas Day bombing attempt that has set off the recent flurry of scanner demands. According to recovery.gov, Rapiscan also received $2.9 million in stimulus monies in May 2009. The total number of jobs created by these millions in stimulus funds is estimated at 40.

In addition to the stimulus money recently administered, the US Army just announced an award of a no-bid contract to Rapiscan for 12 scanners to be used at military bases in Iraq and Kuwait. Previously, in December 2009, Rapiscan received a $5 million contract from NATO to provide screening devices for use in Afghanistan, as noted by WorldSecurity-index.com: "The award by NATO is the latest in a number of recent awards to Rapiscan Systems for integrated security systems that combine cargo, vehicle and personnel screening. Within the past twelve months, Rapiscan has also received contracts from the US government, UK Customs, the European Union and multiple customers in Asia and the Middle East." This is, in short, a company with strong and steadily increasing ties to the US military and the international defense industry.