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May - 2005 - issue > si 20 Company Performance
OSI Systems Inc
si Team
Saturday, April 30, 2005
It’s been a patient journey for Deepak Chopra while navigating optoelectronic devices manufacturer OSI Systems through various acquisitions during late 1990s. OSI has three business groups: Healthcare, Opto-electronics and Manufacturing, and Security.

With security business contributing to 31 percent of the company’s revenues, in March 2005 all subsidiaries under the security group were brought under Rapiscan Systems.

“Over the past five years we have acquired and developed a broad range of complimentary security products and technologies. The consolidation into Rapiscan Systems will strengthen our brand recognition globally in the security and inspection industry. We are excited about the future of Rapiscan Systems,” says Chopra.

The company is keeping a close eye on more than just security. It produces X-ray inspection equipment used in airport screening, cargo inspection, and other scanning applications. OSI systems also makes optoelectronic devices used in a variety of aerospace and office products, such as printers and weapon sighting systems, which is also in the company’s own security systems.

The company’s medical unit makes patient monitors, sensors, and clinical data information systems. Customers include InVision Technologies, the Transportation Security Administration, the U.S Marshals Service, Lockheed Martin, and Honeywell.

OSI garnered $190.2 million in December 2004, an increase from $89.7 million in 2003. Their net income decreased 13 percent to $3.8 million. Results reflect higher sales due to the acquisition of Spacelabs. The healthcare group contributed $54 million while opto-electronics and manufacturing group contributed $16.5 million.
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