Invacare Corporation Completes Sale of Medical Supplies Business to AssuraMed

  Invacare Corporation Completes Sale of Medical Supplies Business to
  AssuraMed

Business Wire

ELYRIA, Ohio -- January 18, 2013

Invacare Corporation (NYSE: IVC) announced today that it has completed the
sale of its Invacare Supply Group (ISG) medical supplies business to AssuraMed
of Twinsburg, Ohio, a leader in wholesale and home-delivered medical supplies
across the United States, for a purchase price of approximately $150.8 million
in cash, which is subject to final post-closing adjustments. Invacare
estimates net proceeds from the sale of approximately $146.6 million, net of
expenses.

This transaction is consistent with Invacare's globalization strategy,
allowing the Company to focus on its core equipment product lines. In line
with its prior announcement of the transaction, the Company intends to use the
proceeds from the sale to reduce debt outstanding under its revolving credit
facility. The Company expects that this will better position it to accelerate
new product development with selective acquisitions after it has completed its
previously announced quality systems remediation at its corporate and Taylor
Street manufacturing facilities in Elyria, Ohio.

The Company expects to file a Form 8-K containing unaudited pro forma
condensed combined financial statements with the Securities and Exchange
Commission on Tuesday, January 22, 2013, which will reflect the effects of the
disposition of ISG.

About Invacare Corporation
Invacare Corporation (NYSE:IVC), headquartered in Elyria, Ohio, is the global
leader in the manufacture and distribution of innovative home and long-term
care medical products that promote recovery and active lifestyles.The Company
has 6,000 associates and markets its products in approximately 80 countries
around the world. For more information about Invacare and its products, visit
Invacare's website at www.invacare.com.

Invacare Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
the “Safe Harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Terms such as “will,” “should,” “could,” “plan,” “intend,” “expect,”
“continue,” “believe” and “anticipate,” as well as similar comments, are
forward-looking in nature that are subject to inherent uncertainties that are
difficult to predict. Actual results and events may differ significantly from
those expressed or anticipated as a result of risks and uncertainties, which
include, but are not limited to, the following: compliance costs, limitations
on the design, production and/or distribution of Invacare's products,
inability to bid on or win certain contracts, or other adverse effects of the
FDA consent decree of injunction; unforeseen circumstances that might delay or
adversely impact the results of the third party expert certification audits or
FDA inspections of Invacare's quality systems at the impacted Elyria, Ohio,
facilities; the failure or refusal of customers or healthcare professionals to
sign necessary certification forms required by the exceptions to the consent
decree; adverse changes in government and other third-party payor
reimbursement levels and practices both in the U.S. and in other countries
(such as, for example, more extensive pre-payment reviews and post-payment
audits by payors, or the Medicare national competitive bidding program
covering nine metropolitan statistical areas that started in 2011 and an
additional 91 metropolitan statistical areas beginning in July 2013), impacts
of the U.S. Affordable Care Act that was enacted in 2010 (such as, for
example, the expected annual impact on Invacare of the excise tax beginning in
2013 on certain medical devices and Invacare's ability to successfully offset
such impact); legal actions, regulatory proceedings or Invacare's failure to
comply with regulatory requirements or receive regulatory clearance or
approval for Invacare's products or operations in the United States or abroad;
product liability claims; exchange rate or tax rate fluctuations; inability to
design, manufacture, distribute and achieve market acceptance of new products
with greater functionality or lower costs or new product platforms that
deliver the anticipated benefits of Invacare's globalization strategy;
consolidation of health care providers; lower cost imports; uncollectible
accounts receivable; difficulties in implementing/upgrading Enterprise
Resource Planning systems; risks inherent in managing and operating businesses
in many different foreign jurisdictions; ineffective cost reduction and
restructuring efforts; potential product recalls; possible adverse effects of
being leveraged, including interest rate or event of default risks
(particularly as might result from impact of the FDA consent decree);
decreased availability or increased costs of materials which could increase
Invacare's costs of producing or acquiring Invacare's products, including
possible increases in commodity costs or freight costs; heightened
vulnerability to a hostile takeover attempt arising from depressed market
prices for Company shares; provisions of Ohio law or in Invacare's debt
agreements, shareholder rights plan or charter documents that may prevent or
delay a change in control, as well as the risks described from time to time in
Invacare's reports as filed with the Securities and Exchange Commission.
Except to the extent required by law, we do not undertake and specifically
decline any obligation to review or update any forward-looking statements or
to publicly announce the results of any revisions to any of such statements to
reflect future events or developments or otherwise.

Contact:

Invacare Corporation
Lara Mahoney, 440-329-6393
Director of Investor Relations and Corporate Communications
or
AssuraMed
Kevin Gehrt, 330-963-6998 Ext: 3210
Vice President - Human Resources & Communications
media@assuramed.com
 
Press spacebar to pause and continue. Press esc to stop.