INVACARE ANNOUNCES ACQUISITION OF BENCRAFT LIMITED
ELYRIA, Ohio, June 12 /PRNewswire/ -- Invacare Corporation (Nasdaq-NNM: IVCR) announced today that it has acquired for about $5,130,000 in cash the stock of Bencraft Limited, a manufacturer of wheelchairs headquartered in Birmingham, England.
Bencraft manufactures manual and power wheelchairs and designs and supplies specialty seating systems and cushions. Bencraft is a major supplier to the National Health Service (N.H.S.) of England, Scotland, Wales, Northern Ireland and Eire. Sales for year ended March 31, 1995 were approximately $10,000,000.
A. Malachi Mixon III, Invacare's Chairman, President and Chief Executive Officer, said, "The acquisition supports Invacare's goal of becoming the market leader in Europe by providing an opportunity to add to market share in the United Kingdom and also brings to the company a management team experienced in dealing with the N.H.S."
Bencraft will continue to be operated out of Birmingham, England with the existing management team under the direction of Clive McCoy, Managing Director. Mr. McCoy will report directly to Benoit Juranville, President and General Manager of Invacare Europe.
Invacare is the world's leading manufacturer and distributor of home medical equipment. The company's headquarters are located in Elyria, Ohio with manufacturing facilities in the United States, Canada, Mexico, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Germany, France and the United Kingdom. Products are distributed worldwide through a network of more than 10,000 dealer locations.
/CONTACT: Thomas R. Miklich of Invacare Corporation, 216-329-6111/
CO: Invacare Corporation; Bencraft Limited ST: Ohio IN: MTC mtc - A Modula-2 to C translator.
ftp://rusmv1.rus.uni-stuttgart.de/soft/Unixtools/compilerbau/mtc.tar.Z. SU: TNM TNM tumor-nodes-metastasis; see under staging.
tumor, nodes and metastases; a system of cancer staging (see TNM staging).
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