Invacare Sells Rentals Businesses
- By Laurie Watanabe
- Jul 17, 2015
Invacare Corp. has sold its American medical device rentals businesses for long-term care facilities for approximately $15.5 million in cash, the manufacturer announced.
Invacare Chairman/President/CEO Matthew E. Monaghan said of the transaction, “The sale of our United States rentals businesses allows us to narrow our focus on improving profitability in our core business, including the design, manufacture and distribution of medical devices. We are pleased to complete this divestiture, and I want to thank the entire rentals team for their contributions to Invacare.”
Invacare expects to reap net proceeds of about $13.7 million after post-closing adjustments and possible restructuring charges.
Laurie Watanabe is the editor of Mobility Management. She can be reached at email@example.com.