OSI Systems Subsidiary, Rapiscan Systems, Reaches Agreement with TSA
OSI Systems, Inc. (NASDAQ: OSIS) announced Thursday that Rapiscan
Systems, its Security division, has reached an agreement with the U.S.
Transportation Security Administration (TSA) regarding the Rapiscan
Secure 1000SP Advanced Imaging Technology (AIT) systems and Automated
Target Recognition (ATR) software. The agreement relates to the contract
underlying the issues raised in a “show cause” letter delivered to the
Company by the TSA on November 9, 2012.
“We are pleased to reach a mutually satisfactory agreement with the
TSA,” OSI Systems President and CEO, Deepak Chopra, commented. “We have
had a close working relationship with TSA and its predecessor agencies
for the better part of two decades,