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Tag: Invacare


Invacare makes moves to ‘remain competitive’

Vendors

Invacare makes moves to ‘remain competitive’

May 13, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Matt Monaghan provided color on Invacare’s plans to emphasize “clinically valuable products” as a way to streamline its portfolio and offset higher costs, during a May 10 conference call to discuss the company’s first quarter financial results.  “If you take a bed, for example,  a low-end bed or a high-end bed has roughly the same amount of steel in it,” he said. “So, when the price of steel doubles or triples, you have a...

Home Medical Equipment, Invacare


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Vendors

Invacare juggles demand, costs

May 10, 2022HME News Staff

ELYRIA, Ohio – Invacare reported net sales of $201 million for the first quarter of 2022, a 2.4% increase compared to the same period last year.  For North America, net sales were $75.3 million vs. $76 million, a 0.9% decrease, with double-digit growth in sales of mobility and seating products offset by lower sales of lifestyle and respiratory products.   "In 1Q22, we delivered 2.4% reported net sales and 6.4% constant currency net sales growth driven by sales of mobility &...

Financial Results, Invacare


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News

In brief: Invacare layoffs, Philips recall, ResMed exec

May 6, 2022HME News Staff

ELYRIA, Ohio – Invacare is streamlining its operations in the United States, primarily related to headcount reductions, to improve its cost structure, according to a May 4 filing with the U.S. Securities and Exchange Commission.  As a result, the company anticipates annual pre-tax savings of about $2.8 million, with about $1.9 million to be realized in 2022. It will incur restructuring charges of $800,000 and expects to make cash payments in the same amount, primarily related to...

Caire, Insulet, Invacare, Motion, Philips Recall, Quality Biomedical, ResMed, Rhythm Healthcare


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Vendors

Invacare reduces headcounts

May 6, 2022HME News Staff

ELYRIA, Ohio – Invacare is streamlining its operations in the United States, primarily related to headcount reductions, to improve its cost structure, according to a May 4 filing with the U.S. Securities and Exchange Commission.  As a result, the company anticipates annual pre-tax savings of about $2.8 million, with about $1.9 million to be realized in 2022. It will incur restructuring charges of $800,000 and expects to make cash payments in the same amount, primarily related to...

Invacare, Layoffs


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Also Noted

Invacare appoints Aron Schwartz to board

March 23, 2022HME News Staff

ELYRIA, Ohio – Invacare has appointed Aron Schwartz to its board of directors. Schwartz, who currently serves as managing partner of Washington D.C.-based private equity firm ICON Investments, has a wide range of financial experience overseeing and managing companies. “We are pleased to further strengthen our board with the addition of Aron,” said Matt Monaghan, chairman, president and CEO. “His depth and breadth of financial and operational experience will be invaluable to...

Aron Schwartz, Home Medical Equipment, Invacare


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Matt Monaghan

Vendors

Invacare restructures for improved second half of 2022

March 11, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Invacare plans to make a number of changes this year to pivot the company to “a more profitable and competitive business model,” says Matt Monaghan.   In the face of persistent supply chain challenges, Invacare expects to optimize its product line for efficiency; shift where and how it manufactures, assembles and distributes products, especially considering freight and logistics trends; align staff levels and how employees are organized to be streamlined...

Home Medical Equipment, Invacare, Matt Monaghan


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Matt Monaghan

Vendors

Invacare ends quarter, year with slight growth

March 9, 2022HME News Staff

ELYRIA, Ohio – Invacare reported net sales increased 1% to $226.2 million in the fourth quarter of 2021 compared to the same period in 2020.  The company reported net sales increased 2.6% to $875.5 million for full year 2021 vs. full year 2020.  “We ended the year sustaining strong new order intake and growing customer interest in our leading portfolio of products,” said Matt Monaghan, chairman, president and CEO. “We continue to manage this demand and to take...

Home Medical Equipment, Invacare


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Business Development

Technology driving complex rehab market

February 28, 2022John Andrews

A technology stalwart in the home medical equipment industry, complex rehab equipment hasn’t let the two-year pandemic slow down advancements in the field. If anything, the industry has gained momentum and manufacturers are working harder than ever to add more high-tech features to their products.  “The past two years have really pushed everyone to determine alternative solutions to provide clients equipment,” said Jay Brislin, vice president of Exeter, Pa.-based Quantum...

Complex Rehab, Invacare, Merits, Quantum Rehab


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Also Noted

Invacare ups its power assist game 

February 8, 2022HME News Staff

ELYRIA, Ohio – Invacare has launched the next generation of its power assist devices: the Alber e-fix eco Power Assist. The next generation device, which transforms a manual wheelchair into a portable power wheelchair using a joystick, battery and in-wheel motors, features a modern design for the wheel hub and color display. “The new e-fix eco, our third new product in less than two years, follows successful launches of our award winning SMOOV and e-motion Power Assist products,”...

Invacare, Manual wheelchair, power assist devices, Power Wheelchair


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Also Noted

Invacare reduces size of board following resignation

January 25, 2022HME News Staff

ELYRIA, Ohio – Invacare has announced that Diana Ferguson resigned as a director from the company’s board of directors on Jan. 19. Ferguson’s decision to resign, effectively immediately, is due to her other personal and professional obligations and not due to any disagreement with Invacare, the company stated. Following her resignation, Invacare’s board intends to reduce its size to eight members. Members of the board are now Matthew Monaghan, chairman, as well as president...

Board of Directors, Invacare


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