Oxford Instruments sells US healthcare business

Oxford Instruments

Oxford Instruments plc, a leading provider of high technology products and services to industrial companies and scientific research communities, has completed the sale of its OI Healthcare business in the US to MXR Imaging, Inc, for £11.5 million.

The OI Healthcare business in the US offers the sale, service and rental of third-party Magnetic Resonance Imaging and Computer Tomography machines, with offices in Florida, Michigan and California.

Ian Barkshire, Chief Executive of Tubney Woods-based Oxford Instruments, said: “The sale of the Oxford Instruments’ US-based OI Healthcare business further supports our 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.”

In January Oxford Instruments sold its 47 per cent share in Swedish company Scienta Omicron to a group of existing shareholders in the joint venture for £11.7 million.

The joint venture was established in 2015 consisting of Oxford Instruments’ Omicron Nanotechnology GmBH and GDI’s Scienta Scientific, creating a leading company in Ultra High Vacuum Surface Science.