Invacare predicts 6% sales growth in 2003
ELYRIA, Ohio - Invacare’s North American sales jumped by 6% in the fourth quarter of 2002 - 8% if you don’t count the sales Invacare walked away from when it exited two product lines, including lift chairs. Overall for the year, Invacare’s sales increased by only half as much, or 3%. For the coming year, Invacare is predicting sales growth of about 6%. The company’s most vigorous product lines in the last quarter included rehab, which jumped 19% mainly due to power product lines introduced earlier in 2002. Medical supplies were up 11%, and respiratory sales jumped 10%. But standard wheelchair sales were down 9% for the quarter, a decrease that Invacare chalks up to a delay in the receipt of Medicare coding for its new wheelchair line as well as a sluggish transition by customers.
Respironics buys SpectRx
NORCROSS, Ga. - SpectRx has sold its BiliChek Non-invasive Bilirubin Analyzer product line to Respironics for $4 million in cash, an additional $1 million to be paid based upon completion of product development work already underway, and up to an additional$6.25 million to be paid in royalties and earn out payments over the next five years based upon the achievement of certain operating results. Respironics had been the exclusive U.S. distributor.
JCAHO develops HIPPA plans
OAKBROOK TERRACE, Ill. - JCAHO and The National Committee for Quality Assurance are exploring a possible collaboration to offer a Privacy Certification Program for Business Associates. In accordance with HIPAA’s expectations, the planned program would evaluate applicant business associates to determine whether they are meeting standards for safeguarding protected health information based on the HIPAA privacy regulation.
Computer Applications Unlimited has joined The VGM Group’s Consultants Guide. Listed under Software in the Consultants Guide at www.vgm.com, CAU now offers more than 15 years of HME Automation experience to VGM Group membersâ€¦Harmar Mobility has launched a new Web site that provides enhanced photos, product information, dealer service information and other distinct features to meet the needs of Harmar’s national network of mobility dealersâ€¦ Pride Mobility Products has launched its fourth annual seminar tour. The 2003 tour will take in 42 cities, continue through to September and train providers and PT/OTs in the latest advances in the company’s technology and service.