SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549

                            FORM 10-QSB



  Quarterly Report under Section 13 or 15(d) of the Securities
Exchange Act of 1934 For the quarterly period ended March 31, 1999

                   Commission File No. 0-18785


                OXBORO MEDICAL INTERNATIONAL, INC.
(Exact name of small business issuer as specified in its charter)


          Minnesota                            41-1391803
(State or other jurisdiction of     (I.R.S. Employer Identification No.)
 incorporation or organization)            


   13828 Lincoln Street NE, Ham Lake, Minnesota              55304
    (Address of principal executive offices)               (Zip Code)


Issuer's telephone number, including area code:      (612) 755-9516

Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for 
such shorter period that the registrant was required to file such 
reports), and (2) has been subject to such filing requirements for the 
past 90 days.
           Yes:    X        No: 

Applicable only to corporate issuers:  State the number of shares of the 
issuer's Common Stock outstanding as of April 30, 1999:  2,160,128 
shares. 

Transitional Small Business Disclosure Format:
          Yes:    X         No:


OXBORO MEDICAL INTERNATIONAL, INC.

TABLE OF CONTENTS

                                                            Page No.

    PART I.    FINANCIAL INFORMATION

Item 1.    Financial Statements

    Condensed Consolidated Balance Sheets as of March 31, 1999   3
    and September 30, 1998 (unaudited)

    Condensed Consolidated Statements of Operations for Three    4
    Months and Six Months Ended March 31, 1999 and 1998 
    (unaudited)

    Condensed Consolidated Statements of Cash Flows for Six      5
    Months Ended March 31, 1999 and 1998 (unaudited)

    Notes to Condensed Consolidated Financial Statements         6
    (unaudited)


Item 2.   Management's Discussion and Analysis                   6

    PART II.    OTHER INFORMATION

Item 4.   Submission of Matters to a Vote of Security Holders    8

Item 5.   Other Information                                      8

Signature                                                        9



2<PAGE>




PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements 

                      OXBORO MEDICAL INTERNATIONAL, INC. 
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (UNAUDITED)

                                          March 31,    September 30,
                                            1999           1998
                                          ---------      ---------
ASSETS
CURRENT ASSETS:
Cash                                       $167,500        $71,125
Accounts receivable, less allowance
  for doubtful accounts of $21,950
  and $24,601, respectively                 764,757        717,014
Inventories                               1,020,519      1,926,925
Deferred income taxes                       103,000        103,000
Other current assets                        107,594        102,405
                                          ---------      ---------

TOTAL CURRENT ASSETS                      2,163,370      2,920,469

PROPERTY AND EQUIPMENT, NET               1,198,323      1,242,634
	
OTHER ASSETS
Investments -- Cash surrender value
  of life insurance                         132,325        287,029
Other                                        97,492        128,251
                                         ----------     ----------

                                         $3,591,510     $4,578,383
                                         ----------     ----------

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Note payable to bank                       $545,313       $288,313
Current maturities of long-term debt          7,621          7,621
Accounts payable                            326,202        315,017
Accrued salaries, wages, payroll taxes      117,848        109,675
Other accrued expenses                      340,773        538,472
                                            -------        -------

TOTAL CURRENT LIABILITIES                 1,337,757      1,259,098
LONG-TERM DEBT                              374,476        379,041
DEFERRED INCOME TAXES                       103,000        103,000
SHAREHOLDERS' EQUITY:
Common stock                                 24,096         24,386
Additional paid-in capital                1,493,707      1,536,617
Retained earnings                           477,780      1,538,747
                                          ---------      ---------

                                          1,995,583      3,099,750
Stock subscription receivable              (219,306)      (262,506)
                                          ---------      ---------

TOTAL SHAREHOLDERS' EQUITY                1,776,277      2,837,244
                                          ---------      ---------

                                         $3,591,510     $4,578,383
                                         ----------     ----------

See accompanying notes to condensed consolidated financial statements.

3<PAGE>


                     OXBORO MEDICAL INTERNATIONAL, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                (UNAUDITED)

                             Three Months Ended      Six Months Ended
                                  March 31                March 31
                             ------------------      -----------------
                             1999         1998       1999        1998
                             ----         ----       ----        ----

Net sales                $1,387,916  $1,226,800   $2,608,139 $2,404,546
Cost of goods sold        1,455,021     402,582    1,939,893    813,863
                          ---------   ---------    ---------  ---------

Gross margin (loss)         (67,105)    824,218      668,246  1,590,683

Selling, general and
 administrative expenses    927,599     957,317    1,731,728  1,607,045
                           --------     -------    ---------  ---------

Operating loss             (994,704)   (133,099)  (1,063,482)   (16,362)

Interest expense            (18,804)    (11,942)     (35,156)   (22,526)
Interest and other income         0       8,272       37,671     12,883
                             ------      ------       ------     ------

Loss before income taxes (1,013,508)    136,769)  (1,060,967)   (26,005)

Income tax benefit                0     (27,153)           0     (5,000)
                           --------      ------    ---------      -----

Net loss                ($1,013,508)  ($109,616) ($1,060,967)  ($21,005)
                         ----------    --------   ----------    -------
                         ----------    --------   ----------    -------

Net loss per share
Basic                         ($.47)      ($.04)       ($.46)     ($.01)
                              -----        ----         ----       ----

Diluted                       ($.47)      ($.04)       ($.46)     ($.01)
                              -----        ----         ----       ----

Weighted average common
 and common equivalent
 shares outstanding
Basic                     2,160,128   2,730,552    2,299,353  2,493,840
                          ---------   ---------    ---------  ---------

Diluted                   2,160,128   2,730,552    2,299,353  2,493,840
                          ---------   ---------    ---------  ---------

See accompanying notes to condensed consolidated financial statements.



4<PAGE>



                     OXBORO MEDICAL INTERNATIONAL, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (UNAUDITED)

                                               Six Months Ended
                                                   March 31
                                            1999            1998
                                            ----            ----

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                ($1,060,967)      ($21,005)
Adjustments to reconcile net loss to net
  cash used in operating activities:
  Depreciation                               86,905         99,258
  Inventory adjustments                     900,553              0
  Compensation expense related to options         0         12,500
  Change in current assets and current
  liabilities:
  Accounts receivable                       (47,743)         3,847
  Inventories                                 5,853       (147,358)
  Other current assets                       (5,190)        93,341
  Accounts payable                           11,185         38,232
  Income taxes payable                            0         (6,000)
  Accrued salaries, wages, payroll taxes
    and other accrued expenses             (189,526)      (143,550)
                                            -------        -------

NET CASH USED IN OPERATING ACTIVITIES      (298,930)       (70,735)

CASH FLOWS FROM INVESTING ACTIVITIES:
Long-term investment                        154,704              0
Reductions in (additions to) other assets    30,759        (95,338)
Purchase of property and equipment          (42,594)       (41,595)
                                             ------         ------

NET CASH PROVIDED BY (USED IN)
  INVESTING ACTIVITIES                      142,869       (136,933)
                                            -------        -------

CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt                   (4,564)        (3,223)
Bank note proceeds                          257,000        137,000
                                            -------        -------

NET CASH PROVIDED BY FINANCING ACTIVITIES   252,436        133,777
                                            -------        -------

NET INCREASE (DECREASE) IN CASH AND
  CASH EQUIVALENTS                           96,375        (73,891)
CASH AND CASH EQUIVALENTS,
  at beginning of period                     71,125        124,815
                                             ------        -------

CASH AND CASH EQUIVALENTS,
  at end of period                         $167,500        $50,924
                                            -------         ------

SUPPLEMENTAL DISCLOSURE OF CASH
FLOW INFORMATION:
Cash paid during the six months
  ended March 31 for:
    Income taxes                                  0             0
    Interest                                 35,156        22,526

See accompanying notes to condensed consolidated financial statements. 


5<PAGE>



OXBORO MEDICAL INTERNATIONAL, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)

1.   BASIS OF FINANCIAL STATEMENT PRESENTATION 

The accompanying unaudited condensed consolidated financial statements 
have been prepared by Oxboro Medical International, Inc. (the "Company" 
or "Oxboro") pursuant to the rules and regulations of the Securities and 
Exchange Commission. Certain information and footnote disclosures 
normally included in financial statements prepared in accordance with 
generally accepted accounting principles have been condensed or omitted 
pursuant to such rules and regulations. Although management believes that 
the disclosures are adequate to make the information presented not 
misleading, it is suggested that these interim consolidated financial 
statements be read in conjunction with the Company's most recent audited 
consolidated financial statements and notes thereto. In the opinion of 
management, all adjustments (which include only normal recurring 
adjustments) necessary for a fair presentation of the financial position, 
results of operations and cash flows for the interim periods presented 
have been made. Operating results for the six months ended March 31, 1999 
are not necessarily indicative of the results that may be expected for 
the year ending September 30, 1999. 

2.   INVENTORIES 
                                 March 31, 1999   September 30, 1998
                                 --------------   ------------------

     Inventories consist of:
     Raw materials                  $690,554          $1,087,488
     Finished goods                  329,965             839,437
                                     -------           ---------

                                  $1,020,519          $1,926,925
                                   ---------           ---------


3.   NET EARNINGS (LOSS) PER SHARE 

The Company's basic net loss per share amounts have been computed by 
dividing net loss by the weighted average number of outstanding common 
shares. The Company's diluted net loss per share is computed by dividing 
net loss by the weighted average number of outstanding common shares and 
common share equivalents relating to stock options, when dilutive. For 
the six months ended March 31, 1999 and 1998, no common share equivalents 
would have been included in the computation of diluted net income per 
share had net income been achieved. 

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS 

OVERVIEW

The Company develops, assembles, and markets medical and surgical devices 
and, through its wholly-owned subsidiary, Oxboro Outdoors, Inc. 
("Outdoors"), develops, assembles and markets products for the fishing 
markets.  Principal medical products produced and sold by Oxboro include 
silicone loops, silicone and fabric clamp covers, instrument guards, 
suture aid booties and identification sheet and roll tape.  Outdoors' 
principal products fall into two groups. One group consists of products 
licensed by professional sports organizations ("Licensed Products") and 
is comprised of fishing lures products, earrings and key chains. Outdoors 
has license agreements for such products with NFL Properties, Inc., Major 
League Baseball, and National Association for Stock Car Auto Racing, Inc. 
("NASCAR"), and other professional sports organizations.   The other 
product group consists of miscellaneous fishing related products, 
including fishing tackle products (hooks, lures, leaders, weights, 
artificial bait and lines), fishing tools and equipment, and fishing and 
hunting accessory products (self-adhesive organizational foam and other 
products).

RESULTS OF OPERATIONS

Net sales for the three-month period ended March 31, 1999 were $1,387,916 
as compared to $1,226,800 for the corresponding period in the previous 
fiscal year. This represents an increase of approximately 13%.  

Net sales of medical and surgical products were $1,198,553, an increase 
of 3.8%, or $44,542, as compared to the corresponding period in fiscal 
1998. Strong competition continues in the Company's medical product 
markets. 

Outdoors sales for the three months ended March 31, 1999 were $189,363 
as compared to $72,789 for the corresponding period in the previous 
fiscal year, an increase of approximately 160%.  For second quarter 1999, 
shipment of "Licensed Products" accounted for approximately 66% of sales 
of Outdoors products as compared to 53% of sales for the corresponding 
period in fiscal 1998. 

Gross margin for the second quarter of fiscal 1999 and 1998 was (-5%) and 
67%, respectively. The 72% decrease in gross margin for second quarter 
1999 resulted from adjustments to record inventory ($900,553) to net 
realizable value. Gross margin for the three-month period ended March 31, 
1999 for medical and surgical products decreased by 26% from 69% to 43%. 
Gross margin for the same period for Outdoors decreased by 344% from 33% 
to (-311%).  Gross margin for the second quarter, before adjustments to 
inventory, was 60% (Medical 64%, Outdoors 38%).

During the second quarter of fiscal 1999, selling, general and 
administrative ("SG&A") expenses decreased by 3%, or $29,718 and 
decreased from 78% to 67% as a percentage of sales, as compared to the 
second quarter of fiscal 1998.  

SG&A expenses for Oxboro decreased by approximately $86,182, or 11%, 
resulting substantially from reduced annual meeting and proxy costs.  
SG&A expenses for Outdoors increased by approximately $56,464, or 31%, 
compared to the corresponding period in the previous fiscal year. The 
increase was due mainly to bad debt expenses of $70,940.

The loss before income taxes for second quarter of fiscal 1999 was 
$1,013,508 as compared to a loss of $136,769 in second quarter of fiscal 
1998. The increased loss is mainly due to the inventory adjustments 
discussed above.


LIQUIDITY AND CAPITAL RESOURCES

The Company has typically financed its operations through internal 
working capital and a bank line-of-credit. Financing of its building has 
been through long-term bank financing. As of March 31, 1999, the Company 
had working capital of $825,613 as compared to $1,661,371 at September 
30, 1998, and long-term debt of $374,476 as compared to $379,041 at 
September 30, 1998.  As of March 31, 1999, the Company had $167,500 in 
cash as compared to $71,125 at September 30, 1998.

During the quarter ended March 31, 1999, the Company used $65,982 of cash 
in operating activities, primarily due to decrease of $ 44,959 in accrued 
expenses. The Company generated $ 180,874 in investing activities during 
the quarter ended March 31, 1999, primarily from borrowings against cash 
value of life insurance.

As of March 31, 1999, the Company's outstanding balance on a $550,000 
line of credit with Norwest Bank was $545,313, increased from $288,313 at 
September 30, 1998.  The line of credit expires on May 31, 1999.  The 
Company's management has discussed with Norwest Bank an extension of 
credit beyond that date, and it has commenced negotiations for an 
extension of credit.

FORWARD LOOKING STATEMENTS

Forward-looking statements herein are made pursuant to the safe harbor 
provisions of the Private Securities Litigation Reform Act of 1995. 
Investors are cautioned that all forward-looking statements involve risks 
and uncertainty. There are certain important factors that could cause 
results to differ materially from those anticipated by some of the 
statements made herein. Among the factors that could cause actual results 
to differ materially are the following: acceptance of new products, 
pricing strategies of competitors, general conditions in the industries 
served by the Company's products, changes in management of the Company, 
maintenance of operating capital and bank financing, and overall economic 
conditions, including inflation and consumer buying patterns.

YEAR 2000 ISSUES

The Company has assessed and continues to assess the impact of the Year 
2000 issue on its reporting systems and operations. The Year 2000 issue 
exists because many computer systems and applications currently use two-
digit fields to designate a year. As the century date occurs, date 
sensitive systems may recognize the Year 2000 as 1900 or not at all. This 
inability to recognize or properly treat the Year 2000 may cause systems 
to process critical financial and operational information incorrectly. 
The Company is currently installing a new computer system which is Y2K 
compliant, and expects the computer system to be operational prior to the 
end of the year.  If Year 2000 modifications are not properly completed 
either by the Company or any entities with whom the Company conducts 
business, which include approximately 3,800 hospitals, the Company could 
be unable to receive, process, or ship orders to customers on a timely 
basis, if at all. In such case, the Company's revenues and financial 
condition could be adversely impacted. At this time the Company believes 
it is not necessary to adopt a contingency plan for the possibility that 
assessments and potential corrections will not be completed in a timely 
manner. However, the Company will continue to assess the need for a 
contingency plan, particularly as it relates to the capabilities of its 
customers. 

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The Company's annual meeting of shareholders was held on March 4, 1999, 
at which the only matter voted upon by the shareholders was the election 
of John Sayer as a Class II director, to serve a three year term.

ITEM 5.  OTHER INFORMATION

CHANGE IN MANAGEMENT

On February 15, 1999, Matthew E. Bellin joined the Company as President 
and COO, replacing Christopher Turnbull, interim President.  Mr. Bellin 
has over 20 years in the medical industry.  He was a founder of 
Biomedical Dynamics Corp. and Medical Internet Communications Inc. 
(MEDICOM).

NASDAQ LISTING REQUIREMENTS

After adjustments of $969,493 in inventory, bad debt and other 
miscellaneous assets, net tangible assets were $1,776,277 as of March 31, 
1999, or $223,723 below the minimum capital requirements for continued 
listing on the NASDAQ Small Cap System.  The Company expects to receive a 
notice from NASDAQ requiring it to develop and execute a plan 
satisfactory to NASDAQ, that would within approximately 60 days bring the 
Company's net tangible assets back over $2,000,000.  If the Company is 
unable to accomplish that, the Company's common stock could be delisted 
by NASDAQ.  Although the Company's stock might then be eligible to trade 
on the OTC Bulletin Board, there could be a negative impact on the price 
and liquidity of the Company's common stock.

RASMUSSON LICENSE

Oxboro has been notified by a former officer of the Company, Larry 
Rasmusson, that the Company is currently in default of royalty agreements 
related to certain medical products.  The company has been evaluating the 
legal validity of such agreements and if it concludes that they are 
voidable, it will seek  to terminate, rescind and invalidate such 
agreements and take such other actions as may to it seem appropriate, 
including without limitation, the commencement of litigation.  If such 
agreements are found valid, or if any such litigation is determined 
adversely to it, the Company may lose the right to manufacture and 
distribute certain products.  There could be a substantial negative 
impact on the company's revenues and profits in such event until it 
located and acquired or developed alternative products.

SIGNATURE 

In accordance with the requirements of the Exchange Act, the Registrant 
caused this report to be signed on its behalf by the undersigned, 
thereunto duly authorized. 

OXBORO MEDICAL INTERNATIONAL, INC.

Dated:     May 20, 1999           By   /s/ Matthew E. Bellin
                                     -------------------------
                                     Matthew E. Bellin
                                     Its President