24 February 2020

Disposal of OI Healthcare business in the United States

Oxford Instruments plc, a leading provider of high technology products and services to industrial companies and scientific research communities, today announces that it has completed the sale of its OI Healthcare business in the US to MXR Imaging, Inc, for a consideration of $15.0 million (£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 Oxford Instruments said, "The sale of the Oxford Instruments' US-based 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."

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Enquiries:

Oxford Instruments plc                                                          Tel:  01865 393200
Ian Barkshire, Chief Executive
Gavin Hill, Group Finance Director

MHP Communications                                                           Tel:  020 3128 8100
Rachel Hirst/Alice McLaren