Invacare says most products will be exempt from tax based on retail exemption The IRS issued final regulations on the 2.3% excise tax on medical devices that is part of the Affordable Care Act, and Invacare Corporation has reviewed the final regulations and believes that most of its products will be exempt from the tax based on the retail exemption provided in the regulations. Invacare believes that certain products that it sells for institutional use will be subject to the excise tax. Based on its interpretation of the regulations, the company expects that the impact from the tax when it first takes effect in 2013 will be less than $1.5M and it intends to pass it on to the market.
Invacare reports Q2 European net sales down 16.7% to $128.2M Reports Q2 North America/Home Medical Equipment net sales down 11.4% to $119M. Reports Q2 IPG sales up 6.1% to $27.4M. Reports Q2 Asia/Pacific sales down 9.3% to $11.7M.