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Invacare Corporation (NYSE: IVC) has appointed Stephanie L. Fehr to its Board of Directors, effective March 25, 2021. Ms. Fehr, currently the executive vice president and chief human capital officer at UnitedHealthcare, has extensive experience in human resources across healthcare and technology sectors. Invacare aims to leverage her expertise to enhance growth and organizational excellence. Following her appointment, the board increases to ten members, with nine being independent. Fehr expressed excitement about contributing to Invacare's mission of improving daily lives through essential medical devices.
Invacare Corporation (NYSE: IVC) has priced a $110 million offering of 4.25% convertible senior notes due 2026, increased from the initially planned $100 million. The notes will bear interest payable semi-annually starting September 15, 2021, and mature on March 15, 2026. Holders can convert the notes under certain conditions, with an initial conversion price of approximately $10.57 per share, reflecting a 27.5% premium over the March 11, 2021 closing price. The net proceeds, estimated at $105.8 million, will fund capped call transactions and repurchase existing convertible notes.
Invacare Corporation (IVC) has announced its plan to offer $100 million of convertible senior notes due 2026 in a private placement for institutional buyers. An additional $15 million may be offered if the initial purchaser exercises its option. The notes will bear interest semi-annually, will be convertible under specific conditions, and may be settled in cash or shares. Proceeds will primarily pay off existing convertible notes and cover costs associated with capped call transactions aimed at reducing potential dilution. The offering is not registered under the Securities Act.
Invacare Corporation (NYSE: IVC) announced its conference schedule for March 2021, participating in key healthcare events. On March 16, the company will be part of the Morgan Stanley Virtual Healthcare Corporate Access Day and at 3:10 p.m. ET, CEO Matt Monaghan will present at the Oppenheimer 31st Annual Healthcare Conference, with a webcast available for 90 days. On March 23, he will also engage in a fireside chat at the KeyBanc Life Sciences & MedTech Investor Forum. Management will be available for one-on-one meetings with investors.
Invacare Corporation (NYSE: IVC) has launched the e-motion® (M25), a new power assist device for manual wheelchairs through its subsidiary Alber USA. This updated model features a 33% increase in power, supporting up to 330 lbs, and is faster with speeds of up to 5.3 mph. The e-motion M25 is lighter, weighing 17 lbs per wheel, a 35% reduction from its predecessor. Additionally, it includes a smartphone app for enhanced user experience, providing features like cruise mode and assisted braking. This launch follows the introduction of the SMOOV® one and strengthens Invacare's power assist device portfolio.
Invacare Corporation (IVC) reports its 2020 financial results, impacted by the pandemic. Despite a 3.8% decline in Q4 net sales to $224 million and an 8.3% drop for the year to $850.7 million, operating income improved significantly to $1.2 million in Q4 and $11.3 million for the year. Gross profit margins increased, while free cash flow surged to $15.6 million in Q4. Looking forward, the company anticipates 4%-7% net sales growth and projects Adjusted EBITDA to rise by 41% in 2021, driven by new product launches and improved healthcare access.
Invacare Corporation (NYSE: IVC) announced it will release its financial results for Q4 and the year ended December 31, 2020, after market close on February 10, 2021. A live conference call will be held on February 11, 2021, at 8:30 AM ET to discuss these results and provide an update on its transformation plan and guidance for 2021. Participants can join the call via phone or webcast, with additional details available on the company's investor relations website.
Invacare Corporation (NYSE:IVC), a leader in medical equipment manufacturing, announced its conference schedule for January 2021. CEO Matt Monaghan will present at the CJS 21st Annual New Ideas for the New Year Conference on January 13 at 8:45 a.m. ET, with a live webcast available for 90 days. On January 14 at 3:30 p.m. ET, he will also participate in a fireside chat at the Needham Growth Conference, which will be accessible for 45 days. The management team will hold one-on-one meetings with investors during both events.
Invacare Corporation (NYSE: IVC) will participate in the 32nd Annual Piper Sandler Virtual Healthcare Conference on December 2, 2020. The event features key executives including chairman and CEO Matt Monaghan and CFO Kathleen P. Leneghan. Invacare is a leading manufacturer of medical equipment for non-acute care, focusing on solutions for various medical conditions such as cerebral palsy and chronic obstructive pulmonary disease. Their products cater to home medical providers, residential care operators, and government health services across North America, Europe, and Asia/Pacific.
Invacare Corporation (NYSE: IVC) has launched the AVIVA™ FX – MPS Maxx Multi-Position Power Standing System wheelchair through its division, Motion Concepts. This innovative wheelchair enhances safety and comfort, designed for both indoor and outdoor use, featuring a new 4Sure™ Suspension System for better navigation over obstacles. The MPS Maxx combines various adjustable features, offering users enhanced independence and functionality. This launch builds on the previously introduced AVIVA FX model from February 2020.
