Innovation, influence and business in America's medical cities.

Whitebox Advisors LLC, the Minneapolis hedge fund family headed by Andrew Redleaf, has acquired 1.8 million shares, or 5.4 percent, of Invacare Corp., the maker of home health care equipment and products.

Home health care products maker Invacare Corp. is closing the books on a strong financial performance in 2009 “despite a challenging reimbursement and economic environment.” The company is looking forward to a 2010 without a tax on medical device sales proposed under health care reform.

Employees of home health care equipment maker Invacare Corp. are using YouTube videos to woo President Obama to visit their company during his White House to Main Street Tour through Lorain County on Jan. 22.

A. Malachi Mixon III, chairman and chief executive of Invacare Corp., shook his head in disbelief when he heard that the head of the Senate Finance Committee wanted to tax medical device sales to raise $4 billion a year to pay for health care reform. Now that the absurdity is on the verge of becoming a reality, Mixon is speaking out.

Home-health products company Invacare Corp. warned that the looming specter of a federal medical device tax has prompted it to suspend matching 401(k) contributions, stop merit-pay increases for management and freeze hiring.

Cardinal Health is thinking about selling some CareFusion stock, sending the California spinoff’s stock down on Wednesday.

Invacare Inc. saw earnings-per-share rise 27 percent in the third quarter because of ongoing cost-cutting, and growing financial and operating efficiencies — in spite of a sales drop of 6 percent. The maker of home health care equipment like power wheelchairs and oxygen systems reported net earnings of $13.5 million, or 42 cents a diluted share, in the third quarter.

Invacare Corp. profits rose 43 percent in the second quarter from a year ago as operating expenses as a proportion of sales, interest expenses and income taxes fell. Sales fell 8 percent to $412.5 million in the recent quarter from a year ago, mostly because of unfavorable foreign currency exchange rates. Last week, President Obama gave a thumb’s up to the home health care industry.

The health system stated in a press release that the changes introduce “fresh, new perspectives” and add “balance to its existing disciplines.”

A. Malachi Mixon III, chairman and chief executive of Invacare Corp., feels blessed that his company has side-stepped the world financial and economic crises. He’s optimistic about his company’s financial prospects this year, and about the long-term prospects of the home health care industry.