OSI Systems Settles SAIC Litigation
January 05 2007 - 6:00AM
Business Wire
OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated provider
of specialized electronic products for critical applications in the
Security and Healthcare industries, announced today that its
Security Division, Rapiscan Systems, has entered into an agreement
settling its litigation with SAIC, Inc. The litigation stemmed from
SAIC�s allegations that Rapiscan System�s Gamma-ray based cargo
inspection systems infringed upon SAIC�s �025 patent. Rapiscan
System�s position has been that SAIC�s infringement allegations
were not only meritless but wrongfully made for improper purposes.
Principal terms of the settlement agreement are as follows: SAIC
agreed that, going forward, it will never allege that Rapiscan�s
current and future cargo inspection products infringe SAIC�s �025
patent. Each party agreed not to allege that each others� current
and future Gamma-ray based inspection systems infringe on any
existing or pending patents. The settlement included a general
release of claims. Rapiscan Systems� President, Ajay Mehra, stated,
�We have consistently maintained that SAIC�s patent infringement
claims were baseless. As such, Rapiscan has agreed to this
settlement on the basis that it vindicates our position in the
fullest measure.� About OSI Systems, Inc. OSI Systems, Inc. is a
Hawthorne, California based vertically-integrated provider of
specialized electronic products for critical applications in the
Security and Healthcare industries. 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.
About Rapiscan Systems Rapiscan Systems, a division of OSI Systems,
Inc. is a leading supplier of high quality security inspection
solutions utilizing X-ray and gamma-ray imaging, and advanced
threat identification techniques such as neutron and diffraction
analysis. The company�s products are sold into four market
segments; Baggage and Parcel Inspection, Cargo and Vehicle
Inspection, Hold Baggage Screening and People Screening. The
company has an installed base globally of more than 50,000 security
and inspection systems. The Rapiscan Systems product line is
manufactured at four locations and supported by a global support
service network. For more information on Rapiscan Systems, please
visit www.rapiscansystems.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 our expectations, goals or intentions
about the future, including, but not limited to, statements
regarding the settlement agreement entered into with SAIC, Inc.
Other important factors are set forth in our Securities and
Exchange Commission filings. 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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