LYCOS RETRIEVER 
Invacare
built 634 days ago
By 2000, Invacare was the clear leader of the home healthcare product market. Under the continued leadership of Mixon, Invacare had acquired 35 companies since the Mixon-led group bought the company in 1979. These acquisitions, along with innovative new product development, helped the company surpass the $1 billion revenue mark for the first time in 2000, a remarkable achievement for a company that had had revenue of only $19 million two decades earlier. Earnings for 2000 were a record $59.9 million. In June 2000, Invacare moved its stock listing from the NASDAQ to the prestigious New York Stock Exchange. Mixon, meantime, set a goal of achieving $2 billion in sales by 2005.
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With approximately $1.5 billion in net sales, Invacare is a leading company in the home medical supply industry. The firm has its origins with the Worthington Company, who in 1885 began producing a line of mobility orientated products. The current incarnation of Invacare really began in the late 1970's with a management buyout and expansion into new products lines. Based in Cleveland, OH, Invacare employees over 5,700 associates and markets its products in 80 countries around the world
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In addition to this disappointment, 1997 was ... noteworthy for the difficult environment in which Invacare had to operate, resulting in below average sales growth for the company of about 5.5 percent. Increasing competition, a strong dollar that dampened sales in Europe, and uncertainty created by a Medicare budget debate combined to wreak havoc. Invacare responded with a major restructuring involving plant closures, the elimination of unprofitable product lines, asset writedowns, and increased bad debt reserves. In connection with the restructuring, the firm took a pretax charge of $61 million, resulting in net income of just $1.6 million for the year, compared to $38.9 million for 1996. In September 1997, Invacare moved into a new $5 million headquarters building in Elyria.
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The Lynx 3-Wheel Scooter from Invacare has many advantages over other scooters in its class. It is compact, attractive, and extremely easy to disassemble for transport. It comes standard with a front basket, 360-degree swivel seat (which can be adapted for right hand use), and flat-free tires. The standard padded seat is roomy and comfortable, and comes with width/angle adjustable flip-back armrests. The seat ... removes easily and folds for transport.
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Invacare experienced another banner year in 1993. Sales increased to $365 million while earnings were reported at over $22 million. From 1979 through 1993, the company had achieved an annual growth rate of over 23 percent and was listed in Forbes as one of the 200 best small companies in America and in Business Week's "250 Companies on the Move." From October 1991 to the end of 1993, Invacare made seven major acquisitions, including Canadian Posture and Seating Centre, Inc. (Kitchener, Ontario); Hovis Medical Limited (Mississauga, Ontario); Perry Oxygen Systems, Inc. (Port St. Lucie, Florida); Poirier S.A. (Tours, France); Top End (Pinellas Park, Florida); Dynamics Controls Ltd. (Christchurch, New Zealand); and Geomarine Systems, Inc. (Carmel, New York). Although Dynamic Controls, a manufacturer of power controls for wheelchairs, and Geomarine Systems, a manufacturer of low air loss therapy mattress replacement systems, were important in expanding the company's product line and increasing the cost effectiveness of its manufacturing operations, it was the purchases of Top End Wheelchair Sports and Poirier that were most significant.
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For the athlete in you, try one of Invacare's sport chairs. They are appropriate for many types of sports from basketball, quad rugby and tennis to wheelchair racing. Being confined to a wheelchair shouldn't inhibit you from taking part in the sports you love. Choosing an Invacare chair will bring your performance to new heights.
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