Respiratory drives Invacare’s growth
ELYRIA, Ohio - Invacare’s respiratory sales in North America surged by 38% in the first quarter over the corresponding quarter last year, according to the company’s quarterly filing released in April. Invacare credited sales of its HomeFill II oxygen system for the lion’s share of its growth in respiratory.
Overall net sales for the quarter increased 16% over last year to $321 million.
While the company’s standard products continue to fall, down 11% over last year, sales of rehab products grew by 22% with acquisitions accounting for 12 percentage points of the increase.
Although consumer power chair sales are down due to tightened eligibility rules at CMS, Invacare said sales of custom power products led by the Storm TDX chairs more than made up for those declines.
The ongoing challenges in the PWC market have pushed Invacare’s DSO from 64 days last year to 70 days this year.
The company plans to introduce 40 new products this year and to achieve a net sales increase of 12% to 14% for 2004.