Invacare Corp. has announced it will sell Invacare Supply Group to AssuraMed, according to a news release.
ISG is Invacare's domestic medical supplies business. AssuraMed will acquire the business for $150 million, subject to certain closing adjustments. AssuraMed, headquartered in Twinsburg, Ohio, is a mail-order, direct-to-customer provider of disposable medical products to chronic disease patients.
"We are thrilled to have ISG as a complement to our Independence Medical business," said AssuraMed CEO Michael B. Petras Jr., in the release. "ISG's strong position in the marketplace and focus on customer service are an excellent fit with our product portfolio and focus on customer solutions. This strategic acquisition builds on our strengths in providing disposable medical supplies to the chronic disease market. Our new combined customer base will benefit from enhanced distribution capabilities and services that we will be able to provide.''
The transaction is expected to close in early 2013.
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