Invacare

Invacare Corporation (NYSE: IVC) is an American manufacturer and distributor of non-acute medical equipment including wheelchairs, mobility scooters, walkers, pressure care and positioning, as well as respiratory products. Headquartered in Elyria, Ohio, the company currently distributes its product to more than 80 countries around the world.

History

The history of Invacare can be traced its root back to 1885 when the Worthington Company began to produce a wide range of wheelchairs. The product lines were expanded several times, but its main focus remained in wheelchairs.

In the 1970s, Invacare was owned by Technicare, a Cleveland medical device manufacturer. With Mal Mixon as its Vice President of Marketing, the company branched into the field of diagnostic imaging. Later in 1978, Technicare was acquired by Johnson & Johnson who subsequently put Invacare up for sale. Driven by the wish of running his own firm, Mal Mixon expressed interest in buying Invacare. Because of financial constraint, Mixon had to borrow $4.3 million and raise another $2.5 million in order to buy Invacare at $7.8 million. The transaction closed on December 28, 1979.