Invacare Corporation

The story of Invacare begins not with a single startup, but with a series of mergers and acquisitions rooted in the 19th-century wheelchair manufacturer, the Worthington Company. Fast forward to the 1970s, this entity, then a small division within a larger medical device company called Technicare, was seen as a non-core asset. In 1978, Johnson & Johnson acquired Technicare and put the wheelchair division up for sale. A pivotal moment arrived in 1979 when A. Malachi "Mal" Mixon, a marketing vice president at Technicare, led an investment group to purchase the division for $7.8 million, officially christening it Invacare Corporation. With a clear vision, Mixon expanded the company beyond wheelchairs into a broad range of home healthcare products. This strategy fueled significant growth, leading to the company's initial public offering in 1984. Through numerous acquisitions, Invacare grew into a global leader in the home medical equipment industry, manufacturing everything from mobility scooters and walkers to respiratory products. However, the company faced substantial headwinds. After years of navigating regulatory challenges and supply chain disruptions, Invacare filed for Chapter 11 bankruptcy in February 2023. This was a strategic move to restructure its debt and recapitalize the business. The company successfully emerged from bankruptcy in May 2023, aiming to drive profitable growth in its core product categories. A new era began when Invacare Holdings Corporation became the new parent company for the global operations.