Invacare CEO A. Malachi Mixon, III, Awarded Cleveland Branch NAACP 2006 Freedom Award

Thursday, June 22, 2006 8:00 am EDT

Dateline:

ELYRIA, Ohio

Public Company Information:

NYSE:
IVC
"My focus has been to create more capital for African American businesses, which eventually will create more African American wealth to give back to the community"
ELYRIA, Ohio--(BUSINESS WIRE)--June 22, 2006--A. Malachi Mixon, III, chairman and chief executive officer of Invacare Corporation (NYSE:IVC), was awarded the 2006 Freedom Award by the Cleveland Branch of the National Association for the Advancement of Colored People (NAACP). The award, which was presented June 17, recognizes Mixon's genuine commitment to the principles of economic inclusion and diversity.

Mixon spearheaded the development of Minorities with Vision (MWV) Pinnacle Capital Fund, the largest private equity fund in Ohio that makes debt and equity investments in promising businesses owned, controlled or managed by minorities. He raised $24 million among private investors, and personally invested the first $1 million in the fund.

Mixon also is very active as an associate member of the President's Council, an organization of chief executive officers from some of the largest African American owned and operated businesses in the Greater Cleveland area. The Council provides leadership, innovative ideas and resources to advance African American businesses and contribute to the overall growth and economic development in Northeast Ohio.

"My focus has been to create more capital for African American businesses, which eventually will create more African American wealth to give back to the community," said Mixon.

MWV was established after a Cleveland-based research and civic advocacy group confirmed that lack of equity capital is a key barrier to growth for high-potential, minority-owned and -managed companies. Its primary objective is to help established minority businesses grow to a sufficient size and scale where they can be competitive and have a positive impact on their communities.

Mixon works tirelessly by serving as a mentor, counselor and advisor to minority entrepreneurs. He is no stranger to entrepreneurial challenges. In 1979, Mixon led a leveraged buy-out of Invacare, when sales were $19 million. Under his leadership, sales have grown to $1.5 billion.

Invacare Corporation (NYSE:IVC), headquartered in Elyria, Ohio, is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and active lifestyles. The company has 6,100 associates and markets its products in 80 countries around the world. For more information about the company and its products, visit Invacare's website at www.invacare.com.

Contact:

Invacare Corporation
Lara L. Mahoney, 440-329-6393
Photo available upon request

Business Wire NewsHQ℠