Invacare Corporation (IVC, Financial) (IVC - $7.43 - NYSE) is a leading provider of mobility and seating solutions (wheelchairs) and home medical equipment for non-acute care settings. The company has reported three solid quarters in a row increasing investor confidence in the company’s ability to execute a massive turnaround. The company has ample liquidity to fund its operations and address the remaining debt due in early 2021. Although social distancing could slow fitment for new wheelchairs, the company is seeing outsized demand for its medical equipment and respiratory devices due to COVID-19. Management remains committed to hitting its $85-105mm run-rate EBITDA target by 4Q20.
From Keeley Asset Management's Small-Mid Cap Value Fund first-quarter 2020 shareholder commentary.
