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 […]
Hologic to retain CEO MacMillan | Personnel Moves – November 3, 2017
Hologic (NSDQ:HOLX) said this week its current prez and CEO Stephen MacMillan will stay on with the company, resolving rumors that he may depart it to take up the corner office at Zimmer Biomet (NYSE:ZBH). In an SEC filing, the Marlborough, Mass.-based company’s board said it approved a special “performance-based retention equity grant” to MacMillan after he had begun […]
Smith & Nephew CEO Bohuon to retire | Personnel Moves – Oct. 10, 2017
Smith & Nephew (NYSE:SNN) said today that its current CEO Olivier Bohuon has announced his intention to retire by the end of 2018 and that the company has begun a search for a new chief exec. Bohuon joined the company in 2011, and has overseen a significant rise in share value with the company since taking the […]
Invacare shifts Rea wheelchair production from Sweden to France
Invacare (NYSE:IVC) said today it is transferring the production of its Rea manual wheelchairs from its Dïo, Sweden facilities to its wheelchair manufacturing facilities in Fondettes, France, beginning next January. Wheelchairs can be easily replaced if people start to see Motorized wheelchair reviews on OnlyTopReviews site so they could fing out how much better it would […]
FDA clears Invacare’s Elyria, Ohio wheelchair manufacturing facility
Invacare (NYSE:IVC) said today that it received notice from the FDA that it can resume wheelchair production operations at its Elyria, Ohio-based manufacturing facility. The company said that the letter followed the completion of multiple procedural milestones, including an on-site inspection of the facilities by the FDA on May 30. “Since I arrived at Invacare in 2015, […]
Invacare shutters Chinese manufacturing plant
Invacare (NYSE:IVC) said today it closed its manufacturing facility in Suzhou, China as it continues along the 2nd phase of a strategic transformation. The Elyria, Ohio-based company said that production from the facility has been transferred to operations located “closer to its regional customers,” according to a press release. “The Suzhou facility has been an important part […]
Invacare prices convertible note round, lifts amount to $105m
Invacare (NYSE:IVC) today priced an upcoming offering of convertible notes, lifting it from a previously announced $100 million to $105 million aggregate principal amount. In the round, Invacare will offer $105 million in convertible senior notes due 2022 in a private offering to institutional buyers. Final terms on the notes will be determined at pricing, Invacare said, […]
Invacare readies $100m convertible notes offering as ex-CEO Mixon starts selloff
Invacare (NYSE:IVC) today announced an upcoming offering of $100 million in convertible senior notes due 2022 in a private offering to institutional buyers just days after ex-CEO Malachi Mixon III said he plans to trigger more than 700,000 convertible shares he controls. The Elyria, Ohio-based company said that in connection with the offering, it expects to […]
Ex-Invacare chief Mixon pulls the trigger on convertible shares
Invacare (NYSE:IVC) said yesterday that the former chairman & CEO who rescued the company from the doldrums in the 1980s, Malachi Mixon III, is pulling the trigger on the more than 700,000 convertible shares he controls. The 1-for-1 exchange will take Invacare’s voting power from 40,155,366 votes to 33,820,158 votes, the Elyria, Ohio-based company said. “The conversion […]
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