Tag: Invacare

MURRYSVILLE, Pa. – Philips Respironics will cut 300 manufacturing jobs in Western Pennsylvania and relocate approximately 500 workers from its Pittsburgh headquarters to its two major plants in the nearby suburbs, according to local news reports.  Starting in the fourth quarter of 2024, the company will move workers to its centers in Murrysville and New Kensington, a move that is expected to take two years, according to the Pittsburgh Post-Gazette.  The company said it will...

ELYRIA, Ohio – Invacare’s month-long fundraising and active campaign, its first annual Move for Mobility, in partnership with Free Wheelchair Mission, was a global fundraising initiative that inspired hundreds of employees to get out and be active within their communities. Four-hundred and twenty-five employees from 20 countries participated in various activities, including horse riding, surfing, mountaineering, yoga, and marathons and raised more than $28,000. With Invacare’s fundraising,...

ELYRIA, Ohio – Invacare has initiated a strategic reorganization in North America that affects less than 10% of its workforce but crosses over both the Rehab and Lifestyles business units, a company spokesperson has confirmed.  When asked which employees were affected by the layoffs, a company spokesperson said, “After a thorough assessment of the current and future business environment, employees across the business were impacted.”  The spokesperson continued: "The...

ELYRIA, Ohio, and IRVINE, Calif. – Invacare has announced the launch of Move for Mobility, a global fundraising initiative in collaboration with its partner, Free Wheelchair Mission. As part of the initiative in May, hundreds of Invacare employees around the world will participate to support Free Wheelchair Mission’s work in providing life-changing wheelchairs to people living in remote communities with no access to mobility equipment. Invacare employees will take part by being active...

WASHINGTON – NCART added four new members in November: manufacturers Homecare Products and Invacare; and suppliers Norco and Laurel Medical Solutions. “We’re grateful to all our members for their support and privileged to work alongside each of them to protect and enhance access to CRT in the community,” the organization stated. “If your company provides or manufactures CRT, help us fight the negative trends in coverage and payment that continue to mount. Your support...

ELYRIA, Ohio – Invacare has restructured and appointed new leaders to its Rehab and Lifestyles business units in North America, helping the company make “strides toward a new future” in the months following its emergence from bankruptcy.  The company recently appointed Paul Lavin vice president Rehab – North America, and Brad Duff vice president Lifestyles – North America.   “Invacare has a proud history in the industry and we’re making...

ELYRIA, Ohio – Invacare has appointed Kai Zhu as senior vice president and CFO effective July 1. Zhu, who has served as Invacare’s vice president of finance for the Europe, Middle East and Africa (EMEA) since April 2022, has more than two decades of financial leadership experience. “On behalf of the board of directors, I am pleased to welcome Kai as our next chief financial officer,” said Geoffrey P. Purtill, president and CEO. “Kai brings deep experience and financial...

LOS ANGELES – A new analysis by researchers at the University of Southern California warns that overpayments to Medicare Advantage plans now exceed 20%, or $75 billion annually, underscoring the urgent need for reform.  Researchers with the USC Schaeffer Center for Health Policy & Economics found that the millions of beneficiaries in traditional Medicare who have switched to Medicare Advantage plans have lower spending than those with similar health risks. They report this pattern of...

NEW YORK – White Oak ABL and White Oak Commercial Finance, the asset-based lending affiliates of White Oak Global Advisors, provided a $40 million North America ABL credit facility to Invacare Holdings Corp., it announced today.  The $40 million ABL Facility was part of Invacare’s larger financial restructuring, which allowed the company to emerge from a voluntary pre-arranged bankruptcy and continue to pursue its goals in its core lifestyle and mobility & seating product categories.  “We...

ELYRIA, Ohio – A lot has happened in the first half of the year for Invacare and now that its U.S. entities have emerged from bankruptcy, it’s back to business, says CEO Geoff Purtill.  Since January, Invacare has, among other things, sold its Top End business and its respiratory business; announced plans to close a distribution facility in Sanford, Fla., this fall; partnered with MTMC to expand the reach of its lifestyle portfolio; and emerged from bankruptcy on May 5, 94 days...