Spacelabs seems to be doing pretty well.

The Healthcare Group reported revenues of $47.8 million for the third quarter of fiscal 2005, compared to $8.6 million reported for the third quarter of fiscal 2004. For the nine months ended March 31, 2005, revenues increased by $129.3 million, to $144.6 million from $15.3 million for the comparable period of fiscal 2004. Revenue growth was primarily due to the March 2004 acquisition of Spacelabs Medical.

Income from operations for the third quarter of fiscal 2005 was $691,000, after Spacelabs-related amortization and retention expenses of $637,000. For the nine months ended March 31, 2005, income from operations was $5.8 million, after Spacelabs-related amortization and retention expenses of $2.4 million.

OSI also Blease Medical Holdings, a U.K.manufacturer of anesthesia systems, vaporizors and ventilators. This should round out Spacelabs offering nicely.