ELYRIA, Ohio–(BUSINESS WIRE)–June 8, 2005–Invacare (NYSE:IVC) announced today the company has acquired Altimate Medical, Inc. (“Altimate”). Terms of the cash purchase are not being disclosed. A U.S.-based company with operations in Morton, Minnesota, Altimate designs and manufactures standing frames and mobility aids for the rehabilitation market. Altimate’s products fit well with Invacare’s Helixx Group, which has a number of highly customized products for the rehab market.
Altimate will continue to operate independently under its existing management team, focused on growing its core business. “We are pleased to have Altimate join Helixx, and strengthen Helixx’s product offerings and market presence,” said A. Malachi Mixon, III, chairman and chief executive officer of Invacare. “The addition of Altimate continues Invacare’s goal of adding accretive acquisitions to our core markets of home and long term care.”
Invacare (NYSE:IVC), headquartered in Elyria, Ohio, is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and active lifestyles. The company has 6,100 associates and markets its products in 80 countries around the world. For more information about the company and our products, visit Invacare’s website at www.invacare.com.
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