New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 21, 2012
08:03 EDTIVCInvacare to sell medical supplies business to AssuraMed for $150M
Invacare Corporation and AssuraMed announced that they have signed a definitive agreement under which Invacare will sell Invacare Supply Group, its domestic medical supplies business, to AssuraMed for $150M, subject to certain closing adjustments. This divestiture is consistent with Invacare's focus on its globalization strategy to harmonize core global product lines and reduce complexity within its business. The transaction, which is expected to close in early 2013, is subject to regulatory approval and other customary closing conditions. Subject to certain closing adjustments and any restructuring charges, Invacare preliminarily estimates that it will realize net proceeds from the sale of the ISG business of approximately $140M, net of tax and expenses. In the near term, Invacare intends to use the proceeds to strengthen its balance sheet and reduce debt outstanding under its revolving credit facility. As previously disclosed by Invacare, net sales for the ISG business were approximately $299.5M for 2011 and $246.4M for the first nine months of 2012. Earnings before income taxes were approximately $8.0M for 2011 and $5.1M for the first nine months of 2012. While expected to be initially dilutive, this divestiture is consistent with Invacare's globalization strategy, the company said.
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.
December 22, 2014
07:31 EDTIVCInvacare names C. Martin Harris as interim chairman
Invacare Corporation announced that C. Martin Harris, M.D., has been appointed interim Chairman of the company’s Board of Directors. Dr. Harris joined Invacare as a director in 2003 and was appointed Invacare’s Lead Director effective May 17, 2012. Dr. Harris steps into the interim Chairman role upon the retirement of A. Malachi Mixon, III, who retired as Executive Chairman of the Board of Directors, effective December 21, 2014. Mixon will continue his responsibilities as a non-employee member of the Board until the 2015 annual meeting when the company will nominate him for one additional term after which he will reach the Board’s mandatory retirement age of 75.

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