Invacare completes sale of ISG
ELYRIA, Ohio – Invacare has completed the sale of its medical supplies unit, Invacare Supply Group, to AssuraMed, according to a press release. AssuraMed, the parent company of Edgepark Medical Supplies and Independence Medical, purchased ISG for approximately $150.8 million in cash, which is subject to final post-closing adjustments. Invacare estimates approximately $146.6 million in net proceeds from the sale. The transaction allows Invacare to focus on its core equipment product lines, according to the release. The company intends to use the proceeds from the sale to reduce debt outstanding under its revolving credit facility. Invacare also plans to use the proceeds to accelerate new product development with selective acquisitions, according to the release.