1st May 2015 07:12
LONDON (Alliance News) - Tools and systems manufacturer Oxford Instruments PLC on Friday said it has struck a deal to acquire US-based Medical Imaging Resources for a total of USD20.5 million.
The consideration, which will be funded from existing financing facilities, will comprise a USD10.4 million payment on completion and a further USD10.1 million earn-out payable a year later.
Medical Imaging Resources is based in Ann Arbor, Michigan and build, leases and services mobile medical imaging labs.
Oxford Instruments said the business will be integrated into its OIHealthcare arm, boosting its purchasing power and offering synergies in areas where the pair's operations are duplicated. Both companies provide services for General Electric MRI and CT machines in the US.
Oxford Instruments shares were up 1.3% to 942.50 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Oxford Instruments