AssuraMed Holding, Inc. completed the acquisition of Invacare Supply Group, Inc. from Invacare Corporation.

AssuraMed Holding, Inc. entered into a share purchase agreement to acquire Invacare Supply Group, Inc. from Invacare Corporation (NYSE:IVC) for $150 million in cash on December 21, 2012. The purchase price is subject to closing adjustments. Post acquisition, Invacare Supply Group shall not utilize the names as ISG or Invacare. The acquisition will be terminated if it does not complete by March 1, 2013. Invacare Supply Group had net sales of $299.5 million and earnings before income taxes of approximately $8 million for 2011. The transaction is subject to approval under Hart-Scott-Rodino Act, written resignations of certain directors and non employee officers, a duly executed counterpart to a transition services agreement, a duly executed counterpart to a non-competition, non-solicitation and confidentiality agreement and other regulatory approvals. The transaction was approved by the Board of Directors of Invacare Corporation. The transaction is expected to close on or around January 25, 2013. Invacare intends to use the proceeds to strengthen its balance sheet and reduce debt outstanding under its revolving credit facility. The transaction is expected to be initially dilutive for Invacare Corporation.

Charles W. Hardin and William R. Stewart of Jones Day acted as the legal advisors to AssuraMed while Douglas A. Neary of Calfee, Halter & Griswold LLP acted as the legal advisor to Invacare Corporation. Jefferies & Company, Inc. acted as financial advisor to Invacare Corporation.

AssuraMed Holding, Inc. completed the acquisition of Invacare Supply Group, Inc. from Invacare Corporation (NYSE:IVC) on January 18, 2013.