Invacare announced that it appointed Kai Zhu as its senior VP and chief financial officer (CFO), effective July 1, 2023. Zhu brings more than two decades of financial leadership experience, having served as Invacare VP of finance for EMEA since April 2022. He succeeds Kathleen Leneghan, who announced her retirement from the company. Leneghan plans […]
Invacare
Invacare completes restructuring, emerges from Chapter 11
Invacare (NYSE:IVC) announced today that it successfully emerged from Chapter 11 bankruptcy at the end of last week. Elyria, Ohio-based Invacare began financial restructuring activities that included filing for bankruptcy in February. This saw the company enter into a “Restructuring Support Agreement” (RSA). The RSA covers substantially all of its debt holders. That includes its […]
Invacare begins financial restructuring as two subsidiaries file Chapter 11
Invacare (NYSE:IVC) announced today that it initiated a number of actions in an effort to position itself for long-term success. The Elyria, Ohio–based maker of wheelchairs, medical beds, wound care products and more entered into a “Restructuring Support Agreement” (RSA). The RSA covers substantially all of its debt holders. That includes its term loan lender, […]
Invacare draws additional $5.5M in term loans
Invacare (NYSE:IVC) announced today that it consummated an additional draw of $5.5 million in term loans under a credit agreement. The maker of wheelchairs, mobility scootera and more took the additional draw under its credit agreement, with funds managed by Highbridge Capital Management managed the funds. It took place on Dec. 23, 2022. Elyria, Ohio-based […]
Invacare receives notice of noncompliance on NYSE share price listing rule
Invacare (NYSE:IVC) announced today that it received notice from the New York Stock Exchange (NYSE) that it is not in compliance with certain rules. Elyria, Ohio-based Invacare’s non-compliance involves Section 802.01C of the NYSE Listed Company Manual. The average closing price of the company’s common shares came in under $1 per share over a consecutive […]
Invacare fires President and CEO Matthew Monaghan
Invacare (NYSE:IVC) today announced the removal of President and CEO Matthew Monaghan from the corner office. Elyria, Ohio-based Invacare also ended Monaghan’s role as chair of the board, but said in an SEC filing that he will remain on the board as a director. Invacare said in a news release that it made the changes […]
Invacare slides as restructuring plans will likely lead to lower 2022 revenues
Invacare (NYSE:IVC) shares took a hit today on restructuring plans news, even as Q4 results came in ahead of the consensus forecast. The Elyria, Ohio-based company posted profits of $1.9 million, or 5¢ per share, on sales of $226.2 million for the three months ended Dec. 31, 2021, for a bottom-line gain out of the […]
How medtech fared in the first waves of the pandemic
Medtech industry revenue, research spending and employment declined in the first year of the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data. Total sales, R&D spending and employment for the world’s largest medical device companies declined in 2020 and early 2021, according to a Medical Design & Outsourcing analysis tallying the ongoing pandemic’s initial […]
Invacare rises after hours on mixed bag Q2, reaffirmed guidance
Invacare (NYSE:IVC) shares ticked up after hours on second-quarter results that were mixed compared to the consensus forecast. The Elyria, Ohio-based company posted losses of -$10.7 million, or -31¢ per share, on sales of $225.9 million for the three months ended June 30, 2021, for a 35.6% bottom-line gain on sales growth of 15.1%. Adjusted […]
Invacare stock down on mixed-bag Q1 results
Invacare (NYSE:IVC) posted first-quarter results that missed the earnings consensus on Wall Street and matched on revenue estimates. The Elyria, Ohio-based non-acute medical equipment maker yesterday reported losses of –$14.04 million, or –41¢ per share, on sales of $196.2 million for the three months ended March 31, for a sales loss of –10.16% compared with […]
Invacare, Alber launch wheelchair power assist device
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 […]
