OSI Systems Subsidiary, Rapiscan Systems, Reaches Agreement with TSA

OSI Systems, Inc. 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, See full press release