Invacare 2009 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2009 Invacare annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

• difficulties in retaining key employees of the acquired businesses who are necessary to manage these
businesses;
• difficulties in maintaining uniform standards, controls, procedures and policies throughout acquired
companies;
• adverse effects on existing business relationships with suppliers or customers;
• the risks associated with the assumption of contingent or undisclosed liabilities of acquisition
targets; and
• ability to generate future cash flows or the availability of financing.
In addition, an acquisition could materially impair the company’s operating results by causing the company
to incur debt or requiring the amortization of acquisition expenses and acquired assets.
Armed hostilities, terrorism, natural disasters, or public health issues could harm the company’s business.
Armed hostilities, terrorism, natural disasters, or public health issues, whether in the U.S. or abroad, could
cause damage or disruption to the company, its suppliers or customers, or could create political or economic
instability, any of which could harm the company’s business. These events could cause a decrease in demand for
the company’s products, could make it difficult or impossible for the company to deliver products or for the
company’s suppliers to deliver materials, and could create delays and inefficiencies in the company’s
manufacturing operations.
Certain provisions of the company’s debt agreements, its charter documents, its shareholder rights plan and
Ohio law could delay or prevent the sale of the company.
Provisions of the company’s debt agreements, its charter documents, its shareholder rights plan and Ohio
law may make it more difficult for a third party to acquire, or attempt to acquire, control of the company even if a
change in control would result in the purchase of shares of the company at a premium to market price. In
addition, these provisions may limit the ability of shareholders of the company to approve transactions that they
may deem to be in their best interest.
Item 1B. Unresolved Staff Comments.
None.
I-28