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In Brief: Invacare

This article was originally published in The Gray Sheet

Executive Summary

Invacare: Plans to take a $61 mil. pre-tax charge in the third quarter related to "acceleration" of strategic initiatives intended to lower operating costs and boost competitiveness in the face of intensifying pricing pressures. The initiatives include consolidation of manufacturing facilities, elimination of certain unprofitable non-strategic product lines, and an increase in reserves for bad debts to reflect "increased provider credit risk" stemming from Medicare reimbursement cuts effective Jan. 1, 1998, the firm states...
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