Invacare (NYSE:IVC) and Alber this week launched the Smoov One power-assist solution to assist manual wheelchair users. Smoove One is a portable, rear-mounted power add-on that uses insights of wheelchair drivers and power assist design experience to increase mobility and range while reducing stress on driver’s shoulders. “We are excited to introduce such an innovative product […]
Invacare up on mixed bag Q1
Invacare (NYSE:IVC) shares ticked up today on first-quarter results that saw earnings top the consensus forecast despite reduced revenues. The Elyria, Ohio-based medical equipment maker posted profits of $732,000, or 2¢ per share, on sales of $218.4 million for the three months ended March 31, 2020, for a bottom-line return to profits on a sales decline […]
Invacare jumps on preliminary Q1 results
Invacare (NYSE:IVC) shares shot up nearly 8% today after the company released preliminary financial results from the first quarter of 2020, ended March 31. Shares of IVC were up 7.96% at $7.19 per share in late-afternoon trading today. The Elyria, Ohio-based medical equipment maker expects to report unaudited net sales of approximately $218 million, down 2.2% […]
Invacare sells Dynamic Controls business to Allied Motion
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 […]
Invacare debuts new power wheelchair
Invacare (NYSE:IVC) announced that it is launching the Invacare Aviva FX power wheelchair with front-wheel-drive power mobility. The Aviva FX power wheelchair includes Linx technology that offers pre-set programming parameters, wireless programming and integration with ASL specialty controls. It features an open-stack design to allow easy removal of the tires, wheels, hubs, gearboxes and motors. All […]
Invacare posts losses, but sees stock rise
Despite fourth-quarter results that missed Wall Street projections and signaled increased losses, Invacare (NYSE:IVC) shares saw a sizeable bump on the markets today amid predictions of modest 2020 sales growth. IVC Shares were up 14.5% at $8.67 per share in mid-afternoon trading. The Elyria, Ohio-based company posted losses of -$18.7 million, or -56¢ per share, on […]
Invacare closing Germany plant
Invacare (NYSE:IVC) announced that it plans to close its Porta Westfalica, Germany production and distribution facility at the end of next year. Yesterday’s announcement concluded that after the plant closes at the end of 2020, the manufacturing and distribution activities that are currently conducted there will be performed at other locations within the company or by […]
Invacare lays of 75, shuffles sales deck
Invacare (NYSE:IVC) said yesterday that it’s planning to lay off nearly 2% of its workers and named new leaders for its North American sales operation. The Elyria, Ohio-based wheelchair maker said it laid off 75 workers, or about 1.8% of its workforce, in North America and Europe; as of Dec. 31, 2018, the company had 4,200 […]
Invacare to lay off 50 workers in the EU
Invacare (NYSE:IVC) said yesterday that it plans to reduce its workforce by 50 individuals in Europe as part of its cost reduction efforts. The Elyria, Ohio-based company said that it has already informed all affected employees and that it expects to incur pre-tax cash restructuring charges of approximately $900,000, which will be expensed in the fourth quarter […]
Tricuspid repair firm 4Tech taps ex-Boston Scientific execs for CEO, CMO | Personnel Moves for Feb. 27, 2018
4Tech said last week that it named a pair of Boston Scientific (NYSE:BSX) veterans as its new CEO and CMO, with onetime chief Mike Ennen stepping away for “family reasons.” Galway, Ireland-based 4Tech said former Boston transcatheter aortic valve GM Tom Fleming is slated to take the reins from Thoratec vet Ennen as president & CEO in […]
Another round of layoffs ahead for Invacare
Invacare (NYSE:IVC) said yesterday that it plans to lay off about 2.4% of its workforce, with all of the cuts coming in North America. The Elyria, Ohio-based company said it plans to pare 110 positions, aiming to create $8.5 million in annual pre-tax savings as part of a “strategic transformation.” Invacare reported 4,600 employees worldwide as of […]
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