Monday, May 24, 2010

Mal Mixon suffers stroke

ELYRIA, Ohio - Invacare CEO and Chairman of the Board Mal Mixon recently suffered a mild stroke and will take a temporary medical leave of absence, the company reported April 30. "I have suffered a mild stroke, but fortunately, my condition is stable and my doctors have told me the prognosis for a full recovery is favorable," Mixon stated in a release. Gerry Blouch, president and COO, will serve as interim CEO. James Boland, Invacare's lead director and a member of the board since 1998, will be interim chairman of the board of directors.

Fastrack forms billing division

PLAINVIEW, N.Y. - Fastrack Healthcare Systems has acquired Newnan, Ga.-based Prometheus Group, a billing and technology management service for HMEs, physicians and sleep labs, the company announced last week. The move will allow Fastrack to establish a billing division. "Adding the Prometheus team to Fastrack is very exciting as it will allow us to offer even more services to our clients," stated Fastrack President/CEO Spencer Kay. Prometheus employees in Georgia, South Carolina and India will remain with the new Fastrack division.

Helios plant to close, relocate

PLAINFIELD, Ind. - Chart Industries plans to close a medical oxygen plant and lay off 130 workers this year. Chart acquired the business--formerly Covidien and currently operating under Chart's Caire division--last November. It plans to fold operations, including the manufacturing of Helios oxygen equipment--into its facility in Canton, Ga., according to an article on The move is expected to take about a year to complete; displaced workers will be offered relocation assistance and severance packages.

VGM Insurance marks two decades

WATERLOO, Iowa - VGM Insurance marks 20 years of service this year. The company started out in the mid-1980s and was incorporated by Van. G. Miller in 1990. VGM Insurance specializes in liability insurance for the medical device industry--including HMEs, pharmacies, manufacturers and distributors--through independent insurance agents or directly with medical equipment companies.