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Invacare Ekes Out 2012 Profit, Despite 'Most Challenging Year'

Wed, 02/13/2013 - 3:25pm
Mass Device

Invacare manages a swing to 2012 black despite what CEO Gerald Blouch called 1 of "the most challenging" in the company's history.

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Invacare (NYSE:IVC) weathered what CEO Gerald Blouch called "1 of the most challenging in the company's history" and managed to eke out a small profit.

But the home healthcare supplies maker still faces stiff headwinds, including the lingering after-effects of an FDA probe that crippled a crucial business segment, a stalled research & development program and downward price pressure from new Medicare competitive bidding rules.

Last year Invacare agreed to a consent decree with the FDA that temporarily shut down 2 facilities and forced the sale of its Invacare Supplies Group division to AssuraMed for $151 million and led to layoffs for more than 140 workers, or about 40% of its total workforce.

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