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INVACARE COMPLETES POIRIER ACQUISITION

 INVACARE COMPLETES POIRIER ACQUISITION
 ELYRIA, Ohio, Oct. 15 /PRNewswire/ -- Invacare Corporation


(NASDAQ/NMS: IVCR) today announced that it has completed the acquisition of Poirier S.A., France's largest manufacturer and distributor of wheelchairs and other home medical products. The acquisition was made with a combination of cash and common stock for total consideration of approximately $55 million. A definitive agreement for the acquisition was announced by Invacare on July 27.
 A. Malachi Mixon III, Invacare's chairman, president, and chief executive officer, stated that with the addition of Poirier, Invacare is now solidly the second largest manufacturer and distributor of home medical equipment in Europe and the largest company of its kind in the world. "With approximately 35 percent of 1992 pro forma sales in non-U.S. markets, Invacare continues to move toward its stated goal of achieving global leadership in the home medical equipment industry.
 "Poirier's net sales in its fiscal 1992 year, which ended September 30, surpasses $45 million and net earnings are expected to exceed $3 million," continued Mixon. The acquisition will have a nominal positive impact on operating results in 1992, with significant improvements in future years.
 Invacare manufactures and distributes prescription power and manual wheelchairs, standard wheelchairs, respiratory equipment, hospital-type beds for the home, patient aids, motorized scooters, and other home healthcare and extended care equipment. With annual sales in 1991 of $263 million, Invacare is headquartered in Elyria, Ohio. Manufacturing locations now include Ohio, Florida, Texas, California, Canada, Mexico, Great Britain, Germany, and France. Products are distributed through a worldwide network of over 10,000 medical equipment dealer locations.
 -0- 10/15/92
 /CONTACT: Stanley Berger or Douglas A. Fox, (media), both of S.M. Berger & Company, 216-464-6400, for Invacare, or Gerald Blouch, (investor), of Invacare, 216-329-6190/
 (IVCR) CO: Invacare Corporation ST: Ohio IN: MTC SU: TNM


LC -- CL010 -- 0329 10/15/92 10:30 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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