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
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 […]
Invacare to layoff 50 in NA region
Invacare (NYSE:IVC) said today it will reduce its workforce in North America by approximately 50 individuals. The Elyria, Ohio-based company said it expects to pay approximately $700,000 in charges related to the layoffs, expected to be expensed in its 2nd quarter of 2017. Invacare said it expects that the workforce reduction will generate approximately $2.7 million […]
Medtech stocks: the best and worst of Q1 2017
More than four-fifths of the 100 largest medical device companies in the world saw their stock prices increase during the first three months of 2017, according to a Medical Design & Outsourcing analysis of how the stocks of our Big 100 companies are faring. The situation suggests that even with the uncertainty around what the […]
Invacare continues restructuring, lays off 100
Invacare (NYSE:IVC) said yesterday it cut 100 employees from its workforce as the company continues to restructure. The Elyria, Ohio-based company said it expects to incur restructuring charges of approximately $2.2 million with the layoffs, and that those costs would be expensed in the 1st quarter of 2017. Cash payments related to the restructuring will be […]
Danaher lures ex-Medtronic legal eagle Ellis for GC spot | Personnel Moves
Danaher (NYSE:DHR) said it lured Brian Ellis from Medtronic (NYSE:MDT) to be its new general counsel, replacing Jonathan Graham, who jumpoed ship for Amgen (NSDQ:AMGN) last May. Ellis was general counsel for Medtronic’s restorative therapies group, after stints as GC and chief compliance officer for monitoring solutions at GE Healthcare (NYSE:GE) “Brian brings a wealth of experience leading and […]