OSI Systems wins $40 million medical device contract

OSI Systems Inc. (NASDAQ: OSIS) announced that its Optoelectronics and Manufacturing division received a multi-year contract valued at more than $40 million from a medical device original equipment manufacturer.

The Hawthorne, California-based company will provide electronic sub-assemblies for the customer's medical device platforms. The contract spans multiple years, though the company did not specify the exact duration.

"We are pleased to have been selected by this leading medical device OEM for a significant manufacturing program," said Ajay Mehra, OSI Systems' president and chief executive officer. "This award highlights our capabilities in delivering high-quality, reliable solutions that support critical healthcare applications."

OSI Systems operates through three business segments: Security, Optoelectronics and Manufacturing, and Healthcare. The company's Optoelectronics and Manufacturing segment serves as a supplier of optoelectronic solutions and precision manufacturing services for original equipment manufacturers.

The company did not identify the medical device manufacturer that awarded the contract. OSI Systems serves customers in over 170 countries through its global manufacturing and service network.

OSI Systems designs and manufactures specialized electronic systems and components for applications in security, healthcare, and other sectors. The information is based on a company press release.

You May Also Be Interested In

• Apollo Global Management (APO) call put ratio 1 call to 6.8 puts a focus on a spreader of 9K contracts January 95 and 135 puts
• Isoplus selects Navan to manage global travel and expense program
• UBS Upgrades Intermedia Capital Group (ICG:LN) (ICGUF) to Buy