OSI Systems Appoints New Executive Vice President and Chief Financial Officer
July 26 2006 - 7:00AM
Business Wire
OSI Systems, Inc. (NASDAQ:OSIS), today announced it has named Alan
Edrick as Executive Vice President. Mr. Edrick will commence
employment today and spend approximately two months transitioning
into the position of Chief Financial Officer effective upon the
filing of the company's Annual Report for fiscal 2006. Anuj
Wadhawan, the Company's current Chief Financial Officer, will be
assuming the position of Executive Vice President and Chief
Financial Officer of the Company's security business, Rapiscan
Systems. Rapiscan Systems was formed in March 2005 to bring
together the Company's security businesses under a single
integrated division. Mr. Edrick has more than 17 years of financial
management and public accounting experience including capital
raisings, mergers and acquisitions, financial planning and
analysis, and regulatory compliance. He most recently served as
Executive Vice President and Chief Financial Officer of BioSource
International, Inc., a leading biotechnology company, until its
sale to Invitrogen Corporation. Previously, Mr. Edrick was Senior
Vice President and Chief Financial Officer at North American
Scientific, Inc., a medical device and specialty pharmaceutical
company. Prior to that, from 1989 to 1998, Mr. Edrick worked at
Price Waterhouse LLP in various positions including Senior Manager,
Capital Markets. Mr. Edrick received his B.A. degree from UCLA and
an M.B.A. from the Anderson School at UCLA. Chairman and CEO of OSI
Systems, Mr. Deepak Chopra, stated, "We welcome Alan to OSI
Systems. We believe that his extensive financial and operational
experience will be a great asset to the Company as we continue to
grow the Company." Commenting on his appointment, Mr. Edrick said,
"OSI Systems has an outstanding reputation in the marketplace. I am
excited to be joining a Company that continues to capitalize on its
leading market positions and operational momentum. I look forward
to building further value for OSI and its shareholders." About OSI
Systems, Inc. OSI Systems Inc. is a Hawthorne, California based
diversified global developer, manufacturer and seller of security
and inspection systems, medical monitoring and anesthesia products,
and optoelectronic devices and value-added subsystems. The company
has more than 30 years of experience in electronics engineering and
manufacturing and maintains offices and production facilities
located in more than a dozen countries. OSI Systems implements a
strategy of expansion by leveraging its electronics and contract
manufacturing capabilities into selective end product markets
through organic growth and acquisitions. For more information on
OSI Systems Inc. or any of its subsidiary companies, visit
www.osi-systems.com. 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.
The actual results may differ materially from those described in or
implied by any forward-looking statement. Other important factors
are set forth in the Securities and Exchange Commission filings of
OSI Systems, Inc. All forward-looking statements speak only as of
the date made, and we undertake no obligation to update these
forward-looking statements.
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