Tag: Matt Monaghan
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...
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 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...
Invacare sees improvements in Q3
October 28, 2021HME News Staff
ELYRIA, Ohio – Invacare reported net sales increased 5.8% to $224.2 million in the third quarter of 2021 compared to the same period last year.
On a constant currency basis, Invacare reported net sales increased 2.9%, driven by a 17.1% increase in lifestyle products in Europe and a 7.1% increase in mobility and seating products in North America.
“We achieved constant currency net sales growth driven by double-digit gains in lifestyle products in Europe, strong...
In Invacare’s ‘line of sight’: robust growth
May 7, 2021Liz Beaulieu, Editor
ELYRIA, Ohio – Invacare expects to ship $15 million worth of back orders in the next two quarters, which will give the company a nice lift going into the back half of 2021.
Invacare reported a 10.2% decrease in net sales for the first quarter this year compared to the same period last year, primarily due to the impacts of the COVID-19 pandemic, including continued limited access to health care, and to supply chain disruptions.
“Our first quarter results were...
Invacare: Decline is temporary
May 6, 2021HME News Staff
ELYRIA, Ohio – Invacare reported net sales decreased 10.2% to $196.2 million in the first quarter of 2021 compared to the same period in 2020.
The company says revenue growth in respiratory products was more than offset by lower sales of mobility and seating and lifestyle products, which continue to be impacted by the COVID-19 pandemic, as well as supply chain disruptions that hampered its order fulfillment during the quarter.
"We entered 2021 with strong demand for...
Invacare shows improvements in 'unprecedented' tough market
August 7, 2020Liz Beaulieu, Editor
ELYRIA, Ohio - Invacare sees “encouraging signs” that the demand for mobility and seating products is recovering from a slowdown related to the COVID-19 pandemic. Order rates were up in July and into August, Matt Monaghan, chairman, president and CEO, told investors during a recent conference call to discuss the company's second quarter financial results. “In mobility and seating, the good momentum we had in the first quarter began to slow in early parts of the second quarter as...
Invacare reports sales decrease
August 6, 2020HME News Staff
ELYRIA, Ohio - Invacare reported a net sales decrease of 16.8% to $196.3 million for the second quarter of 2020. Adjusted EBITDA improved by $3.3 million to $6.6 million. Operating loss improved by $2.3 million, or over 50%, to a loss of $2.2 million due to reduced SG&A expenses. “We achieved higher year-over-year adjusted EBITDA for the 11th consecutive quarter and have established a strong track record of continued improvement, despite a pandemic which reduced constant currency net sales...
Invacare fills 'key roles' for North America
July 3, 2019HME News Staff
ELYRIA, Ohio - Invacare has provided an update on its “transformation and growth plan,” including an overhaul of its North America sales organization.The company has appointed Joost Beltman vice president of sales and marketing for North America, and Keith Brantly director of CRT sales.“These are exciting key roles for us to have filled with strong talent,” said Matthew Monaghan, chairman, president and CEO.Beltman joined Invacare in 2008 as country manager for the Netherlands...
Invacare reports 'challenging' results
November 9, 2018Liz Beaulieu, Editor
ELYRIA, Ohio - Invacare had a bumpy third quarter, courtesy of Medicare's competitive bidding program and new tariffs.The company says its North America HME division experienced significantly higher costs from materials sourced both domestically and internationally due to tariffs—to the tune of $1.3 million for the quarter.“We'll continue to implement actions to mitigate the impact of tariffs on our business,” including potentially redesigning products to lower the use of raw materials,...