Invacare 2008 Annual Report Download - page 5

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Invacare believes that homecare is the “trifecta” of healthcare. It is patient preferred, results in better
outcomes, and is more cost effective than institutional care (homecare is one-fifth the cost of institutionalized
care(2)). In a time of healthcare reform, homecare should be recognized as one of the solutions, and Invacare will
continue to be an active participant in Washington, DC, working on behalf of the industry to drive home that
message.
Invacare will continue to seize opportunities to leverage its global resources/capabilities to improve
efficiencies and further drive cost reductions. Invacare describes this strategic initiative as “Glocalization”.
Glocalization is the process of globalizing the Company, while keeping a focus on the local elements that add to
its strength. Through glocalization, Invacare will rationalize and globalize its product lines, and leverage its
global purchasing power, research and development, engineering, systems, and other support functions that
together will: 1) further increase our resources committed to product development; 2) assure future marketplace
competitiveness; and 3) continue improving the Company’s profitability.
Recently, Invacare implemented some changes to its Board of Directors and management staff. General
James L. Jones resigned from the Board to serve as President Obama’s National Security Advisor. We thank
General Jones for his contributions. Effective February 12, 2009, Invacare welcomed Dale C. LaPorte to its
Board. Mr. LaPorte retired from Invacare on December 31, 2008 as Senior Vice President – Business
Development and General Counsel. His long history with Invacare and extensive familiarity with the Company,
including the risk management aspects of Invacare’s business operations, will allow him to add valuable insight
to the Board. In January 2009, Anthony C. LaPlaca assumed the role of Invacare’s Senior Vice President and
General Counsel. Mr. LaPlaca will be responsible for all legal affairs, risk management, and intellectual property
matters at the Company and also will serve as the corporate secretary. We look forward to the impact that these
individuals will bring to their new roles in 2009.
Over the last several years, the Company has made, and continues to make, enhancements to our corporate
governance practices by adopting several new policies and procedures that are considered corporate best
practices. These corporate governance improvements are in line with the growing trends in corporate governance
practices and take into account input we have received from our shareholders.
As the worldwide aging of the population continues, Invacare feels that governments around the world will
recognize that homecare is an important part of the solution to rising healthcare costs. With these factors and
Invacare’s continued focus on cost reduction, we expect to continue to improve year-over-year performance.
Invacare’s products are necessary to the livelihood of the patients who use them. We thank our customers,
shareholders and associates for their ongoing support. Now is a great time to be involved with Invacare, and we
look forward to continuing growth in the future.
Sincerely,
A. Malachi Mixon, III
Chairman and Chief Executive Officer
President and Chief Operating Officer
Gerald B. Blouch