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Tag: Invacare


Invacare taps into $5.5M

Vendors

Invacare taps into $5.5M

December 27, 2022HME News Staff

ELYRIA, Ohio – Invacare on Dec. 27 announced an additional draw of $5.5 million of term loans under its credit agreement with certain funds managed by Highbridge Capital Management. “As guided in the 3Q22 earnings release, Europe achieved sequential growth in revenues and profitability driven by improved supply chain circumstances giving us confidence that our transformation program is reaping benefits,” said Geoff Purtill president and CEO. “Today’s announcement...

Credit Agreement, Invacare


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Providers see Invacare’s exit as another limitation 

Providers

Providers see Invacare’s exit as another limitation 

December 9, 2022Theresa Flaherty, Managing Editor

YARMOUTH, Maine – In a year in which supply chain challenges and a major recall have brought challenge after challenge for HME providers, the news that Invacare is pulling out of the respiratory market has left some worried about a new hurdle in obtaining equipment.  “It’s been a rough year,” said Todd Flesch, co-founder of the Charlotte, N.C.-based Portable Oxygen Solutions. “I don’t know that there’s one company out there currently that can pick...

HomeFill, Invacare, Oxygen Concentrators


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Also Noted

RRI to continue supporting HomeFill

December 1, 2022HME News Staff

ST. LOUIS, Mo. – Responsive Respiratory says it is committed to providing cylinders and valves compatible with the HomeFill system, despite Invacare’s decision to exit the respiratory market by the end of the year. “We stand committed to servicing the needs of oxygen providers,” said Steve Bannon, RRI president. “The departure of Invacare in the respiratory market leaves a tremendous gap for providers utilizing the HomeFill compressor. Rather than decommissioning units...

Home Respiratory Equipment, HomeFill, Invacare, Responsive Respiratory


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On the Editor's Desk

Return to their roots

December 1, 2022Liz Beaulieu, Editor

When I spoke with Geoffrey Purtill in September, he hinted that some dramatic changes were coming Invacare’s way, but he couldn’t say at that time what they were. The need for changes didn’t come as a surprise. Following a consent decree with the U.S. Food and Drug Administration, Invacare has continued to struggle to find its footing and then the pandemic hit, with all of its baggage. A company that once had a market cap of more than $1 billion now stands at $19.72 million. But...

HomeFill, Invacare, respiratory


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News

In brief: Philips pauses remediation, lymphedema bill passes, AAH comments on CGMs

November 22, 2022HME News Staff

AMSTERDAM – Philips has temporarily paused its remediation program for its Trilogy 100/200 ventilators while it investigates a limited number of complaints on remediated units.  “We anticipate a several week delay from our initial four- to six-week timeline in providing remediated devices back to our customers,” the company stated in a Nov. 7 update. “Remediating these devices in a timely manner is our top priority. In order to keep remediation progressing once our...

CGM coverage, Home Medical Equipment, Invacare, Lymphedema Treatment Act, Medtrade, Philips


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News

Invacare’s exit from respiratory market is ‘devastating,’ poll respondents say

November 18, 2022Liz Beaulieu, Editor

YARMOUTH, Maine – Invacare’s decision to discontinue production of respiratory products by the end of this year will leave a gaping hole in the market, according to the respondents to a recent HME Newspoll.  “It’s actually devastating, when 85% or more of our oxygen concentrators are Invacare and I have a staff that knows how to work on them,” wrote one poll respondent.  Eighty- five percent of respondents to the poll reported carrying Invacare respiratory...

Home Medical Equipment, Home Respiratory Equipment, HomeFill, Invacare


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Geoffrey Purtill

Vendors

Invacare: ‘Respiratory products no longer meet minimum profitability target’

November 11, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Geoffrey Purtill says the decision to discontinue respiratory products is proof that Invacare is willing to take “decisive action” to turn around the company.  Invacare announced, as part of its financial results for the third quarter, that it will discontinue respiratory products, including HomeFill and stationary and portable oxygen concentrators, in the fourth quarter.  “We are committed to taking necessary and decisive action to accelerate...

Home Respiratory Equipment, Invacare


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Invacare discontinues respiratory products 

Vendors

Invacare discontinues respiratory products 

November 8, 2022HME News Staff

ELYRIA, Ohio – Invacare will discontinue production of respiratory products to focus on its core business of lifestyle and seating and mobility products, the company has announced.  Invacare expects to discontinue production of respiratory products in the fourth quarter and to fulfill existing customer orders with inventory on hand.  “After carefully evaluating our strategic options, we have determined that the lifestyle and mobility & seating categories are core to improving...

Invacare, respiratory products


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Also Noted

Invacare announces additional draw of term loans

October 5, 2022HME News Staff

ELYRIA, Ohio – Invacare has announced the consummation of additional draws of an aggregate of $18.5 million of term loans pursuant to its credit agreement with certain funds managed by Highbridge Capital Management. Additional commitments of $19.5 million remain available under the Amended Highbridge Loan Agreement, subject to the satisfaction of certain conditions set forth therein. Concurrently with the additional draws, the company consummated the additional closings under the exchange agreements...

Highbridge Capital, Home Medical Equipment, Invacare


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Geoff Purtill

Vendors

New CEO aims to restore confidence in Invacare

September 30, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Geoffrey Purtill, Invacare’s interim president and CEO, is the type of leader who keeps finding himself in turnaround situations and his current appointment is no different.  Purtill, who was named by the board of directors to replace Matt Monaghan in late August, has also led – and still does lead – the company’s Europe/Middle East/Africa and Asia Pacific businesses.  “When I took over APAC, it didn’t have the proper foundation...

Geoffrey Purtill, Invacare, turnaround


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