Invacare’s new owner in North America excels in turnarounds 

ELYRIA, Ohio – MIGA Holdings says it can turn around Invacare North America – which has suffered under a consent decree, a bankruptcy filing and numerous layoffs in the past decade –and it has the track record to prove it. 

Edison, N.J. -based MIGA, which announced it bought the business on Nov. 11, will focus on improving Invacare NA’s operations and infrastructure, while letting the company’s “strongest assets” – its mission, vision, people and products – stand for themselves, says Chaim Piekarski, CEO. 

“Where we excel is in the turnaround,” he said. “We understand how to tap into a company’s strengths and adapt their business to better serve customer needs, bring new products to market and support our people. And we have specific experience doing this with multiple companies over the last 10 years.” 

For example, MIGA acquired Saris, a manufacturer of bike racks, indoor bike trainers and public bike systems that has a reputation as a leader in the market but lacked operational discipline and hadn’t launched a new product in years, Piekarski says. The company is now profitable and launching five new products, he says. 

MIGA, which specializes in acquiring “high-potential brands,” was drawn to Invacare NA’s “legacy,” Piekarski says, including its motto of “Making Life’s Experiences Possible,” and sees potential to return the company to a leading position in the market. 

“There is a real foundation of excellence here that is getting buried under the operational issues that Invacare NA is facing,” he said. “We know we can deliver the discipline and the processes that are needed to restore the company to what it does best.” 

As a result of the acquisition, Invacare’s provider customers in North America can expect “to see major improvements from a stronger infrastructure with better service delivery and new products to support their needs,” Piekarski says. 

“The customers are the ones who are going to benefit most,” he said. “They know there have been challenges – but like us, they also know Invacare NA has incredible strength behind those challenges.” 

Invacare NA’s management team will stay onboard, including Brad Duff and Paul Lavin, who lead the Lifestyle and Rehab business units, respectively, working alongside MIGA, Piekarski says. Geoff Purtill will remain president and CEO of Invacare Holdings and will focus on EMEA, APAC and rest of world. 

“Invacare has an experienced management team here in North America that has deep expertise and established relationships,” he said. “They will continue to lead the team, working side by side with MIGA, as we focus on repositioning the business to achieve operational and financial success.”