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OSI Systems Acquires Electronics Manufacturing Business
Oct 2003
HAWTHORNE, Calif., Oct. 3 -- OSI Systems Inc., which makes optoelectronic-based components and systems, announced today it has acquired assets comprising state-of-the-art automated surface mount technology lines and PC board assembly operations for approximately $4.4 million. The acquired operations, which employ approximately 150 employees in a 60,000-square-foot manufacturing facility located in southern California, will become part of OSI Systems' wholly owned subsidiary, OSI Electronics Inc., with Bruce MacDonald as president.

The operations were acquired through an asset purchase from the Credit Managers Association of California (CMA). The acquisition includes technologies and intellectual property rights and a backlog of approximately $10 million in manufacturing contracts from customers in medical electronics, automotive diagnostic electronics, telecommunication equipment and digital audio system industries.

"At OSI Systems we have long maintained that vertical integration and continually improving our value-added manufacturing services are the two keys to our success," said Deepak Chopra, Chairman and CEO of OSI Systems, Inc. "We seek to extract synergies by consolidating our two electronics manufacturing operations."

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