OSI Systems Announces Official Opening of Its New Manufacturing Facility in China
March 03 2008 - 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 announces today that its
Healthcare Division, Spacelabs Healthcare, has officially opened
its new manufacturing facility in Suzhou, China. The approximate
55,000 square foot manufacturing facility, located approximately 50
miles east of Shanghai, will initially be focused on developing and
manufacturing healthcare products for the emerging markets. The
facility will also serve as the cornerstone for the Company�s
emerging market activities providing R&D, aftermarket service,
training, marketing and sales support while also operating within
the Company�s global supply chain. Mr. Deepak Chopra, CEO of OSI
Systems, stated, �This world class manufacturing facility
complements our global manufacturing strategy and underscores our
commitment to the emerging markets. By expanding our presence in
the Asia Pacific region we are able to provide our range of
products at competitive prices improving our competitiveness
globally. Additionally, the facility will play an integral role in
our global supply chain expanding our range of suppliers and
lowering our component costs for our entire product range. As a
result we expect that the new facility will have a positive impact
on our gross margins as we move into the next fiscal year.� About
OSI Systems, Inc. OSI Systems, Inc. and its subsidiaries is a
vertically integrated designer and manufacturer of specialized
electronic systems and components for critical applications. The
Company sells its products in diversified markets, including
homeland security, healthcare, defense and aerospace. 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. The Company 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 subsidiaries, visit
www.osi-systems.com. About Spacelabs Healthcare Inc. Spacelabs
Healthcare, Inc. (www.spacelabshealthcare.com) is an international
developer, manufacturer and distributor of medical equipment and
services including solutions for patient monitoring and
connectivity, anesthesia delivery and ventilation, diagnostic
cardiology and supplies and accessories selling to hospitals,
clinics and physician offices. Additionally, the company provides
centralized cardiac safety and diagnostic services (QT Studies,
ECG, Holter, ABP, and Event Monitoring) to biopharmaceutical
companies undertaking clinical trials. The company has established
brand names in both medical devices and medical services such as
"Spacelabs," "Blease" and �Del Mar Reynolds.� It employs
approximately 1,100 personnel in its offices located in the United
States, UK, Canada, France, Germany, Finland, India, China and
Singapore. 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,
including, but not limited to the Company�s ability to improve its
gross margin and successfully manufacture and deliver its range of
products for the emerging markets. 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 OSI Systems, Inc.
All forward-looking statements speak only as of the date made, and
the Company undertakes no obligation to update, amend or clarify
these forward-looking statements.
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