Invacare
This article was originally published in The Gray Sheet
Executive Summary
Acquires Carmel, New York-based GSI, Inc., manufacturer of "five different mattress models designed to convert the home care bed into a low air loss bed," according to a July 13 Invacare press release. Low air loss therapy products "are designed to move air through the surface on which the patient is lying in order to reduce heat and moisture buildup," preventing or aiding in the treatment of sores, burns or "other skin-related ailments." GSI has annual revenues of $4 mil. to $5 mil. and "should immediately contribute to Invacare's earnings." Terms of the deal were not disclosed. The acquisition follows on the heels of Invacare's purchase of Christchurch, New Zealand-based Dynamic Controls ("The Gray Sheet" July 5, p. 19)....