Invacare plans to pay down revolver debt with proceeds of asset sale

By Susanna Moon

Chicago, Aug. 7 - Invacare Corp. said it plans to reduce debt outstanding under its revolving credit facility with proceeds from the sale of Champion Manufacturing Inc. for about $45 million.

''As we continue to reduce complexity in our business and focus on our core global product lines for the home and long-term care setting, Champion's specialized focus on the domestic medical recliner business for dialysis clinics no longer fits that streamlined portfolio," Gerald B. Blouch, Invacare president and chief executive officer, said in the press release.

"The net proceeds from this divestiture also give us the opportunity to strengthen our balance sheet through the continued reduction of debt.''

Invacare is based in Elyria, Ohio, and makes home and long-term care medical products.

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