Invacare (NYSE:IVC) today said it sold its Dynamic Controls subsidiary to Allied Motion Technologies for an undisclosed amount.
The transaction was completed on March 7. As part of the deal, Invacare entered a long-term product supply agreement with Dynamic Controls, which includes ongoing supply and support of the Linx system. The agreement also said that Invacare will offer continued support of the MyLinx informatics platform, infrastructure and applications for its respiratory products.
“As so much of our business is based on electromotive propulsion, we are pleased to be working more closely with a leading innovator of motion technology to pave the way for better-integrated propulsion systems in the future. By entering into a strategic relationship with Allied Motion, we can create exciting new opportunities to accelerate technical advances in power wheelchairs through closer integration of the key control and motor technologies and expect other novel innovations as a result,” Invacare president and CEO Matt Monaghan said in a news release. “Through this transaction, Dynamic Controls’ technology can be combined with Allied Motion’s unique capabilities as a leading electromotive technology company to drive the next horizon of innovation. This will also help accelerate the adoption of healthcare informatics technology, such as MyLinx, and enable our products to continue improving patient care. We are excited about the opportunities this new partnership can bring to both companies.”
Allied Motion currently designs, manufactures and sells precision and specialty motion control components and systems that are used in a number of different industries.
“The acquisition of Dynamic Controls provides us another building block in becoming one of the world’s motion solutions leaders. We are eager to begin working with the Dynamic Controls team to inspire the development of new and innovative motion control products,” Allied Motion president and CEO Richard Warzala said. “We are also looking forward to a mutually beneficial relationship with the Invacare team, by providing products, service and support for Invacare’s powered mobility and respiratory portfolios.”
Invacare last week debuted a new power wheelchair with front-wheel-drive power mobility.
