OSI Systems to draw on facility to fund American Science purchase

By Tali Rackner

Norfolk, Va., June 21 – OSI Systems, Inc. expects to use borrowings from its existing $450 million credit facility and balance sheet cash to fund its acquisition of American Science and Engineering, Inc., according to a press release.

The total purchase price is about $187 million, net of $82 million of American Science cash and cash equivalents as of March 31.

Based in Hawthorne, Calif., OSI is a designer and manufacturer of specialized electronic systems and components for applications in the homeland security, health-care, defense and aerospace industries. American Science and Engineering is a provider of detection solutions for advanced cargo, parcel and personnel inspection.

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