Tag: Invacare
Invacare reorganizes in North America
May 3, 2024Liz Beaulieu, Editor
ELYRIA, Ohio – Invacare has initiated a strategic reorganization in North America that affects less than 10% of its workforce but crosses over both the Rehab and Lifestyles business units, a company spokesperson has confirmed.
When asked which employees were affected by the layoffs, a company spokesperson said, “After a thorough assessment of the current and future business environment, employees across the business were impacted.”
The spokesperson continued: "The...
Invacare moves for mobility
April 30, 2024HME News Staff
ELYRIA, Ohio, and IRVINE, Calif. – Invacare has announced the launch of Move for Mobility, a global fundraising initiative in collaboration with its partner, Free Wheelchair Mission. As part of the initiative in May, hundreds of Invacare employees around the world will participate to support Free Wheelchair Mission’s work in providing life-changing wheelchairs to people living in remote communities with no access to mobility equipment. Invacare employees will take part by being active...
NCART adds four members
December 4, 2023HME News Staff
WASHINGTON – NCART added four new members in November: manufacturers Homecare Products and Invacare; and suppliers Norco and Laurel Medical Solutions. “We’re grateful to all our members for their support and privileged to work alongside each of them to protect and enhance access to CRT in the community,” the organization stated. “If your company provides or manufactures CRT, help us fight the negative trends in coverage and payment that continue to mount. Your support...
Invacare moves needle
October 6, 2023Liz Beaulieu, Editor
ELYRIA, Ohio – Invacare has restructured and appointed new leaders to its Rehab and Lifestyles business units in North America, helping the company make “strides toward a new future” in the months following its emergence from bankruptcy.
The company recently appointed Paul Lavin vice president Rehab – North America, and Brad Duff vice president Lifestyles – North America.
“Invacare has a proud history in the industry and we’re making...
Invacare names new SVP, CFO
June 27, 2023HME News Staff
ELYRIA, Ohio – Invacare has appointed Kai Zhu as senior vice president and CFO effective July 1. Zhu, who has served as Invacare’s vice president of finance for the Europe, Middle East and Africa (EMEA) since April 2022, has more than two decades of financial leadership experience. “On behalf of the board of directors, I am pleased to welcome Kai as our next chief financial officer,” said Geoffrey P. Purtill, president and CEO. “Kai brings deep experience and financial...
In brief: MA reform, Invacare credit, health expenditures
June 21, 2023HME News Staff
LOS ANGELES – A new analysis by researchers at the University of Southern California warns that overpayments to Medicare Advantage plans now exceed 20%, or $75 billion annually, underscoring the urgent need for reform.
Researchers with the USC Schaeffer Center for Health Policy & Economics found that the millions of beneficiaries in traditional Medicare who have switched to Medicare Advantage plans have lower spending than those with similar health risks. They report this pattern of...
White Oak supports Invacare’s growth
June 20, 2023HME News Staff
NEW YORK – White Oak ABL and White Oak Commercial Finance, the asset-based lending affiliates of White Oak Global Advisors, provided a $40 million North America ABL credit facility to Invacare Holdings Corp., it announced today.
The $40 million ABL Facility was part of Invacare’s larger financial restructuring, which allowed the company to emerge from a voluntary pre-arranged bankruptcy and continue to pursue its goals in its core lifestyle and mobility & seating product categories.
“We...
CEO Geoff Purtill on Invacare’s future
May 19, 2023Liz Beaulieu, Editor
ELYRIA, Ohio – A lot has happened in the first half of the year for Invacare and now that its U.S. entities have emerged from bankruptcy, it’s back to business, says CEO Geoff Purtill.
Since January, Invacare has, among other things, sold its Top End business and its respiratory business; announced plans to close a distribution facility in Sanford, Fla., this fall; partnered with MTMC to expand the reach of its lifestyle portfolio; and emerged from bankruptcy on May 5, 94 days...
In brief: Invacare sales decrease, smart home market, ARPA payments
May 19, 2023HME News Staff
ELYRIA, Ohio - Invacare Holdings reported its predecessor, Invacare Corp., had net sales of $165.5 million for the first quarter 2023, a decrease of 17.7% compared to the same period last year.
During the first quarter, Invacare announced that its U.S. entities, including Freedom Designs and Adaptive Switch Laboratories, had filed for Chapter 11 bankruptcy. They emerged from bankruptcy on May 5.
“Year-to-date, we've made tremendous strides in all aspects of the company’s...
Invacare reports sales decrease in Q1
May 17, 2023HME News Staff
ELYRIA, Ohio - Invacare Holdings reported its predecessor, Invacare Corp., had net sales of $165.5 million for the first quarter 2023, a decrease of 17.7% compared to the same period last year.
During the first quarter, Invacare announced that its U.S. entities, including Freedom Designs and Adaptive Switch Laboratories, had filed for Chapter 11 bankruptcy. They emerged from bankruptcy on May 5.
“Year-to-date, we've made tremendous strides in all aspects of the company’s...