Invacare contemplates more in China

Sunday, April 20, 2003

April 21, 2003

ELYRIA, Ohio - As so-called “copycat imports” continue to bring pricing pressures to Invacare’s standard product lines, the largest home medical equipment manufacturer has begun to consider a manufacturing presence in China.

In a statement released with its first quarter results, Invacare CEO Mal Mixon said the company was evaluating the prospects of launching a joint-venture, an enhanced supplier relationship or a direct ownership of a facility in China.

Invacare’s sales of standard products declined by 5% last quarter.

Overall, the company’s sales for the first quarter increased 8% to $277 million. Net income was $12.3 million for the quarter and met earnings per share guidance, according to Mixon.

He credited double-digit sales growth in the sale of consumer power products and respiratory products as the company’s growth leaders. Rehab products jumped by 12%. Respiratory products surged by 27%.