OSI Systems to Acquire Spacelabs

To enhance its position in patient monitoring systems, OSI Systems, Inc. (Hawthorne, CA, USA) has agreed to acquire Spacelabs Medical (Issaquah, WA, USA) for about U.S.$57 million in cash.

Spacelabs is a unit of Instrumentarium Corp. (Helsinki, Finland), which was acquired by GE Medical Systems in October 2003. To satisfy regulatory authorities, GE agreed to divest Spacelabs' business worldwide. GE also agreed to provide the acquirer of Spacelabs with the rights to distribute and market certain GE products and accessories.

Spacelabs is a leading global manufacturer and distributor of patient monitoring and clinical information systems for use primarily in hospitals. The company's 2003 unaudited revenues are estimated to be about $150 million. Spacelabs will operate as a wholly owned subsidiary of OSI Systems and maintain its own presence in a capacity similar to that of other OSI subsidiaries. OSI is a diversified global developer, manufacturer, and seller of security and inspection systems, medical monitoring products, and optoelectronic-based components and systems.

"By adding a successful and innovative company like Spacelabs to our organization, we are able to significantly strengthen our presence in medical monitoring, which will now join security and manufacturing as a key platform to drive our company's growth,” said Deepak Chopra, chairman and CEO of OSI Systems.




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