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Tag: Invacare


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In brief: Invacare has new leadership, MA enrollment has doubled, Walgreens has finalized CareCentrix acquisition

September 2, 2022HME News Staff

ELYRIA, Ohio – Matt Monaghan has left his role as chairman, president and CEO of Invacare.  Geoffrey Purtill, who has been serving as the company’s senior vice president and general manager, EMEA and APAC, is interim president and CEO.  “After careful consideration, the board determined that now is the right time for a change in leadership to oversee the successful execution of Invacare’s business transformation,” Cliff Nastas, Invacare’s lead independent...

aahomecare, Angel Care, CareCentrix, Invacare, Matt Monaghan, Walgreens Boots


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Invacare board says ‘right time’ for new leadership

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Invacare board says ‘right time’ for new leadership

August 29, 2022HME News Staff

ELYRIA, Ohio – Matt Monaghan has left his role as chairman, president and CEO of Invacare.  Geoffrey Purtill, who has been serving as the company’s senior vice president and general manager, EMEA and APAC, is interim president and CEO.  “After careful consideration, the board determined that now is the right time for a change in leadership to oversee the successful execution of Invacare’s business transformation,” Cliff Nastas, Invacare’s lead independent...

Invacare, Matt Monaghan


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Invacare enters cooperation agreement 

August 23, 2022HME News Staff

ELYRIA, Ohio – Invacare has entered into a cooperation agreement with its largest shareholder, Azurite Management LLC, which currently owns about 10.3% of the company’s outstanding shares as of June 30, 2022. As part of the agreement, Invacare appointed two new independent directors, Steven Rosen and Ambassador Edward Crawford effective immediately. “Following constructive dialogue and collaboration with Azurite, we are pleased to strengthen our board with the addition of...

Azurite Management, Board of Directors, Invacare


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Matt Monaghan

Vendors

Invacare tries to speed up order conversions 

August 12, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Invacare expects recent strategic funding will increase the company’s liquidity and flexibility, helping it to reduce an elevated backlog.  The company announced in late July that it had secured a term loan agreement of up to $104.5 million, with certain funds managed by Highbridge Capital Management LLC.   “We expect this strategic funding will enable us to more effectively work with our suppliers and find alternative solutions to short-term...

Backlog, Financial Results, Invacare


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Matt Monaghan

Also Noted

Invacare takes several financial actions

July 28, 2022HME News Staff

ELYRIA, Ohio – Invacare has secured a term loan agreement of up to $104.5 million with certain funds managed by Highbridge Capital Management LLC. The company has also entered into private exchange agreements providing for the settlement of $5 million aggregate principal amount of the company’s outstanding 5.00% Series II convertible senior notes due 2024 and up to $55.3 million aggregate principal amount of its outstanding 4.25% convertible senior notes due 2026. “We are pleased...

Home Medical Equipment, Invacare


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Invacare makes moves to ‘remain competitive’

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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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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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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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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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