Elyria, Ohio
Invacare Corp. has acquired Altimate Medical, a manufacturer of standing frames and mobility aids for the rehab market.
Morton, Minn.-based Altimate joins Invacare as part of Helixx Group, an umbrella organization for various entities serving high-end rehab: Freedom Designs offers wheelchairs and seating and positioning products; Kuschall North America manufactures ultra-light wheelchairs; Motion Concepts focuses on seating and positioning; and PinDot offers custom seating.
“The piece that was missing was the part that allowed the end-user to stand,” said Chris Yessayan, Invacare's vice president and general manager of Helixx Group. “The stander is a nice complement to what we have with chairs and seating today.”
Altimate will continue to operate independently under its existing management team. But Invacare does plan some integration in sales, Yessayan said, with certain independent and direct reps selling multiple Helixx brands.
The ultimate goal for Helixx' sales-force structure is to provide “one face for the customer,” he added. “From the customer's perspective, it makes it a lot easier.”
In other company news, Invacare has been named to the 2005 Fortune 1000 list for the second consecutive year. The HME manufacturing giant, which markets its products in 80 countries around the world, came in at No. 963 on Fortune magazine's annual ranking of America's largest public companies, up from 970 on the 2004 list.
“Starting with only $19 million of sales in 1979, Invacare marks its 25th anniversary with $1.4 billion of sales in 2004,” said Chairman and CEO Mal Mixon. “We plan on continuing our strong growth record for our shareholders, and we are proud to move up on the Fortune list.”
