OSI Systems, Inc. (NASDAQ: OSIS) spiked Monday, on word its Optoelectronics and Manufacturing division has received a multi-year award valued at more than $40 million from a leading medical device original equipment manufacturer (OEM) to provide critical electronic sub-assemblies that are utilized in the customer’s medical device platforms.
OSI CEO Ajay Mehra, commented, “We are pleased to have been selected by this leading medical device OEM for a significant manufacturing program. This award highlights our capabilities in delivering high-quality, reliable solutions that support critical healthcare applications. We look forward to continuing to support this customer’s needs through our global manufacturing footprint.”
OSI Systems designs and manufactures specialized electronic systems and components for critical applications. The Company operates through three business segments: Security, Optoelectronics and Manufacturing, and Healthcare. Its Security division delivers advanced inspection systems, turnkey screening solutions, and comprehensive support services to protect people and infrastructure. The Optoelectronics and
Manufacturing segment serves as a global supplier of high-performance optoelectronic solutions and precision manufacturing services for leading OEMs.
The Healthcare segment focuses on patient monitoring, diagnostic cardiology, and related services with the goal of enhancing clinical care and patient outcomes. Serving customers in over 170 countries, OSI Systems strategically positions its sales, service, R&D, and manufacturing capabilities worldwide to provide fast and efficient delivery and support.
OSIS moved skyward $4.27, or 1.6%, to $272.38.
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