Invacare Closes Sales Of Invacare Rentals

(RTTNews) - Invacare Corp (IVC) on Thursday said it has completed the sale of its United States medical device rentals businesses for long-term care facilities (Invacare Outcomes Management LLC and Dynamic Medical Systems LLC) for about $15.5 million in cash, subject to certain post-closing adjustments.

Subject to certain post-closing adjustments and any restructuring charges, Invacare preliminarily estimates it will realize net proceeds from the sale of the rentals businesses of about $13.7 million.

For the three months ended March 2015, sales for the rentals businesses were about $7.2 million, and loss before tax and any pro forma adjustments was about $0.6 million.