OSI Systems Receives Contract Worth up to $29 Million from U.S. Department of Homeland Security

OSI Systems, Inc. (NASDAQ: OSIS), today announced that its security division, Rapiscan Systems, a leading provider of advanced detection and imaging solutions has been awarded a contract by the U.S. Department of Homeland Security (DHS) Science and Technology Directorate (S&T) to develop two separate systems as part of S&T's CanScan Program.

Rapiscan Laboratories, the R&D arm of Rapiscan Systems, secured the competitively bid contract worth up to approximately $29 million with a combined initial funding obligation of $3.6 million for the first phases of the two development efforts.