Invacare acquires power-seating manufacturer

Monday, August 18, 2003

August 19 , 2003

ELYRIA, Ohio - Invacare has acquired Motion Concepts, a Toronto-based company that designs and manufactures power tilt and recline systems for power wheelchairs. The systems are used on many brands of power wheelchair bases, including Invacare brands. Terms of the purchase are not being disclosed.

"We are very pleased to have a company with such a fine reputation in the powered seating area joining Invacare," said A. Malachi Mixon, III, chairman and chief executive officer. "The addition of Motion Concepts will help Invacare continue toward its goal of reaching $2 billion in sales in 2006."

Motion Concepts, a privately owned business, will be operated as an independently run unit of Invacare in a similar manner to Dynamic Controls. Dynamic Controls is an Invacare subsidiary that designs and manufactures microprocessor power-wheelchair controllers and supplies them to most of the power wheelchair manufacturers around the globe. Motion Concepts will retain its own design and engineering staff and sales organization. It will continue to design and manufacture power tilt and recline systems for power wheelchair manufacturers.

The acquisition of Motion Concepts is expected to be immediately accretive to earnings.

Also commenting on the acquisition, Joe Bornbaum, president of Motion Concepts, said, "We are extremely pleased to be joining Invacare while maintaining the independence that our customers expect and deserve. Our ability to expand and grow will be enhanced by Invacare's financial strength."