Pro-Dex (NSDQ:PDEX) said yesterday it sold its Oregon Micro Systems division for $640,000 to OMS Motion, a corporation formed by the division’s long time general manager Phil Brown.
The Irvine, Calif.-based company’s OMS division designs and manufactures embedded multi-axis motion controllers to be sold to distributors or original equipment manufacturers in automation and research industries.
“The sale of our OMS division will allow us to invest in our research and development efforts of our medical device product portfolio. We are pleased that this sale was consummated so quickly, in part due to the knowledge that Phil has regarding the business and its prospects. We wish Phil and OMS Motion, Inc. continued success in the future, and thank Phil for his many years of service and leadership,” Pro-Dex prez & CEO Richard Van Kirk said in prepared remarks.
Pro-Dex said the purchase price was subject to adjustment baed on the value of OMS receivables at the closing date for the sale.