Mal Mixon suffers stroke; AHP talks bankruptcy
We received two big pieces of news this morning: Invacare CEO Mal Mixon has suffered a mild stroke; and American HomePatient plans to restructure its debt and go private.
In a press release issued this morning, Mal stated the following: "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. I look forward to returning to Invacare soon to full duty."
Mal is an icon and has worked tirelessly on behalf of the industry. We send our best wishes to him for a speedy recovery.
The AHP news while big, really comes as no surprise. We've followed AHP's trials and tribulations for ages. In fact, for about as long as I can remember, the national provider has labored under tremendous debt and tottered on the brink of bankruptcy. In fact, AHP stated that if this latest effort to reorganize its finances fails, it may have to file for Chapter 11.
For the company's explanation on this new development, click here.