ELYRIA, Ohio – 2016 was the year Invacare tore itself down and 2017 will be the year it starts building itself back up, Matt Monaghan said during a conference call Feb. 9 to discuss the company’s fourth quarter and year-end financial results.
ELYRIA, Ohio – Invacare has reported net sales of $264.7 million for the fourth quarter of 2016 compared to $283.3 million for the same period in 2015. It reported net losses of $17.6 million vs. $2.93 million.
ELYRIA, Ohio – Invacare’s independent auditor this week issued its certification report for the third phase of the consent decree indicating substantial compliance to the FDA’s quality system regulation.
ELYRIA, Ohio – With a consent decree with the U.S. Food and Drug Administration (FDA) taking longer than it expected to resolve, Invacare has accelerated efforts to reduce its cost structure by reducing its workforce by 190 employees.
ELYRIA, Ohio – Invacare ended the year the same way it started—hamstrung by a consent decree with the U.S. Food and Drug Administration (FDA) that has limited manufacturing at its Taylor Street facility.