Savaria Corp T.SIS

Alternate Symbol(s): SISXF

Industrials

Savaria Corporation is a Canada-based company engaged in the accessibility industry. The Company provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its segments include Accessibility and Patient Care. It designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. It operates a sales network of dealers worldwide and direct sales offices in North America, Europe (United Kingdom, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China.

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Savaria Corp

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Post by retiredcfon Jan 22, 2024 8:10am

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Ink Research

Morning Report: Savaria shares rally as CEO transition unfolds

January 22, 2024

The shares of global mobility equipment maker Savaria (SIS) continued to head higher following our November 6th report, advancing 8.5%. There have been no further financial results released since that report, but Savaria has announced some key leadership changes. On November 30th, it announced that Sebastien Bourassa would become President and Chief Executive Officer on January 1st, while Marcel Bourassa would become Executive Chairman of the Board. According to La Presse, Sebastien is one of Marcel's three adult children working at the firm. According to the company, Sebastien has been involved with expanding the company's operations in China and Mexico. The stock went on to set a 3-month high of $15.49 on December 14th, but it has since pulled back a bit and remains below its 200-day moving average.

Later, on December 19th, Savaria appointed former McKinsey partner Jean-Philippe De Montigny as Chief Transformation Officer. His key focus will be Savaria One which is a company-wide effort to maximize the integration and synergies of the Accessibility and Patient Care business segments across all markets. Mr. De Montigny subsequently bought shares in the public market last week while Sebastien and another Bourassa bought shortly after our previous report. The buying is helping to keep the stock elevated in the INK Edge rankings.

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