New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 5, 2012
18:42 EDTIVCInvacare 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.
News For IVC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 2, 2015
12:20 EDTIVCInvacare to realize about $13.7M in net proceeds from sale of rentals businesses
Invacare announced that it has completed the sale of its United States medical device rentals businesses for long-term care facilities for approximately $15.5M in cash, subject to certain post-closing adjustments. Matthew Monaghan, Chairman, President and CEO, said, ''The sale of our United States rentals businesses allows us to narrow our focus on improving profitability in our core business, including the design, manufacture and distribution of medical devices. We are pleased to complete this divestiture, and I want to thank the entire rentals team for their contributions to Invacare.'' Subject to certain post-closing adjustments and any restructuring charges, Invacare preliminarily estimates it will realize net proceeds from the sale of the rentals businesses of approximately $13.7M, net of tax and expenses. For the three months ended March 31, net sales for the rentals businesses were approximately $7.2M, and loss before tax and any pro forma adjustments was approximately $0.6M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use