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2014 Jefferies Global Healthcare Conference

Gerald B. Blouch

President and Chief Executive Officer

June 4, 2014

Invacare Corporation (NYSE: IVC)

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This presentation contains forward-looking statements within the meaning of the

“Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are those that describe future outcomes or

expectations that are usually identified by words such as “will,” “should,” “could,”

“plan,” “intend,” “expect,” “continue,” “forecast,” “believe,” and “anticipate” and

include, for example, any statement made regarding the Company's future results.

Actual results may differ materially as a result of various risks and uncertainties,

including the current FDA consent decree to which the Company is subject, as well

as other risk factors described in the Company's Form 10-K and other filings with

the Securities and Exchange Commission and in the Company's earnings press

releases. The Company may not be able to predict and may have little or no

control over many factors or events that may influence its future results and,

except as required by law, shall have no obligation to update any forward-looking

statements.

Safe Harbor Statement

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Invacare Corporation – Market Leader

Invacare Corporation (NYSE: IVC), a leading manufacturer and distributor of home

medical devices with annual revenues of $1.4 billion selling to home medical

equipment and long-term care providers in over 80 countries worldwide.

More than half of the Company’s revenues are outside of the United States, primarily

in Europe, as of December 31, 2013.

Equity market capitalization of approximately $532 million.

Enterprise value of approximately $584 million*.

*Based on debt outstanding as of March 31, 2014.

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Compelling Business Case For Homecare

1Leff B, Burton L, Mader SL, et al. Hospital at home: feasibility and outcomes of a program to provide hospital level-care at home for acutely ill older patients, Ann Intern Med 2005; 143:

789-808; 2Doty, Pamela. “Cost-Effectiveness of Home and Community-Based Long-Term Care Services.” USHHS/ASPE Office of Disability, Aging and Long-Term Care Policy. June 2000: 10. 3”Cleveland Clinic – Innovating Innovations.” Healthcare Innovation News. Volume 1, Issue 1. 2014

Invacare participates in a market with strong underlying fundamentals: favorable

demographic trends and the compelling benefits of homecare.

Homecare is the trifecta of healthcare: patient preferred, better clinical outcomes1

and more cost-effective than institutionalized care2.

In the United States, it is now generally accepted that healthcare is in need of

reform. The Affordable Care Act is shifting Medicare’s “fee for service” model

of reimbursement toward a value-based model – one that prioritizes quality of

outcomes over volume of services3.

Controlling escalating healthcare costs requires integrating each element of the

health care continuum to reduce lengths of stay and lower readmission rates.

“Science and medicine bring new and thoughtful applications that allow patients to

remain at home for testing, monitoring and treatment. These advances

continue to reduce unnecessary hospitalizations. Home healthcare is the

next great medical frontier,” according to Floyd D. Loop, MD, former chief

executive officer and chairman, Board of Governors at the Cleveland Clinic.

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Diverse Product Portfolio

Approximate Sales by Product – 12/31/13

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Industry Leading Worldwide Market Positions

Invacare is the #1 player in most home durable medical equipment device lines

Invacare

Sunrise*

Pride*

Drive*

Medline*

Handi-

care*

Permobil*

Res-

pironics

Chart

Industries

Powered Mobility

(excluding scooters)

Manual Mobility

(active)

Manual Mobility

(low-active)

Lifestyle #1

Beds & Furnishings #1

Oxygen Therapy #1

Patient Handling

#1 Market Leader Second Tier Small Share * Private Company

#2

#2 #1

#1

Industry is primarily private, so market share data is estimated.

#1

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Global Product Innovator

Invacare® HomeFill® Oxygen

System with Perfecto2® Oxygen

Concentrator and M2 Cylinder

Alber® twion® Power Assist

for manual wheelchairs

Alber® Scalamobil®

Stair Climber

Invacare® TDX® SP Wheelchair with tilt

and recline powered seating, Stability Lock

and SureStep technology

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Historic Results

(1) Adjusted EPS and Free Cash Flow are non-GAAP financial measures as defined in the relevant year-end earnings

releases which can be found on www.invacare.com.

(2) Including the results of Invacare Supply Group, GAAP EPS was $0.78 in 2010 and ($0.13) in 2011. For full details,

view the relevant year-end earnings releases at www.invacare.com.

(3) Includes the results of Invacare Supply Group, which the company divested on January 18, 2013, and Champion

Manufacturing, which was divested on August 6, 2013. Refer to the Company’s February 8, 2013 earnings release

for more information.

(4) 2012 and 2013 were negatively impacted by the Company’s consent decree with the United States Food and Drug

Administration (FDA) at the Company’s Taylor Street manufacturing and corporate facilities in Elyria, Ohio.

2010(3) 2011(3) 2012(4) 2013(4)

Organic Growth 1.0% 1.7% 0.9% (6.3%)

Adjusted EPS(1) $1.84(2) $2.05(2) $0.22 ($1.20)

Free Cash Flow(1) $105 million $81 million $49 million $6 million

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Near-Term Objectives

1. Reinvigorate new product development

In July 2013, the FDA accepted the third-party certification report on the Company’s

design controls system. This allowed the Company to resume design activities, which

are currently prioritized on critical new product development projects as the Company

continues quality systems remediation activities.

2. Resume full operations at custom power wheelchair manufacturing facility in

Elyria, Ohio

On December 21, 2012, Invacare entered into a consent decree with the United

States Food and Drug Administration at its corporate and Taylor Street custom

wheelchair manufacturing facilities in Elyria, Ohio.

In order to resume full operations at these facilities, the terms of the consent decree

require three, third-party expert certification audits followed by an FDA inspection.

Two of the three certification audits have already been completed and accepted by

the FDA. The third certification audit is underway.

3. Aggressively work to re-establish leadership position in the North American

Complex Rehab Technology market.

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Product Innovation & Rationalization

Engineering

Commercial Operations

Supply

Chain

Globalization - Transformation Cycle

*Timing to be reviewed upon exit of the injunctive phase of the consent decree

The fulcrum for the Company’s globalization program is the harmonization of core

product lines and complexity reduction throughout the business.

The transformation cycle will be driven by globalization of product innovation and

platforms.

$100 million

annualized

savings*

The Company expects this corporate-wide

complexity reduction to result in $100 million

in annualized savings through:

Product cost reduction

Operational efficiencies

Streamlined support infrastructure

Increased market share

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Investment Highlights

Invacare participates in markets with strong underlying fundamentals

Positive demographic trends

Growing prevalence of chronic disease states

Public policy and technology shifting to support the transition from acute care to long-term care to homecare

And in these markets, Invacare is a well positioned company …

Industry leading market positions

Strong brand reputation with superior and innovative products

Strong sales and marketing coverage without major exposure to a single customer

A diverse geographic revenue base selling into over 80 countries worldwide

A diverse product portfolio

Management team with significant ownership

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Thank you

Any questions?