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Oxford Instruments sells US business for ?11.5m

By Frank Prenesti

Date: Monday 24 Feb 2020

(Sharecast News) - Oxford Instruments said it had sold its OI Healthcare business in the US to MXR Imaging for a $15m (?11.5m).
Oxford, which supplies industrial companies and scientific research communities, said the sale supports its ongoing strategy to focus on chosen markets with long-term growth drivers "where we can uphold or develop leading positions".

"This sale will allow us to continue enhancing our ability to deliver further growth and margin improvement while maintaining a customer-centric approach," the company said on Monday.

The OI Healthcare business sells, services and rents third-party magnetic resonance imaging and computer tomography machines, with offices in Florida, Michigan and California.

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