MEDIA RELEASE

NZ$5.28 million grant recognises R&D potential

Christchurch, NZ – December 10 – Dynamic Controls, a global leader in electronic wheelchairs and scooters, has been awarded Government funding of up to NZ$5.28 million over three years for research and development.

The Minister of Research, Science and Technology, Hon Dr Wayne Mapp, today announced the first recipients of the new Technology Development Grants — administered by the Foundation for Research, Science and Technology — at Dynamic Controls’ premises in Christchurch.

Dynamic Controls CEO Charlotte Walshe says, “The Dynamic Controls team is passionate about innovation and using it to enhance the quality of life for people with disabilities. The award of this funding is fundamental to enabling us to achieve our research and development goals faster and better.

“This type of partnership and support between business and government is a great step forward for the successful commercialisation of New Zealand innovation and we’re proud to be a part of this.”

The grant is recognition by the Foundation of the consistent track record of successful innovation through research and development shown by Dynamic Controls with the support of its US parent company Invacare.

“This funding helps make New Zealand an even more attractive centre of excellence for R&D within our global organisation, helping ensure long-term career prospects for our teams. We envisage that the grant will also help us to invigorate the Christchurch economy through the addition of more staff,” she says.

Gerry Blouch, Chief Executive of Invacare, says “Dynamic Controls is a global centre of excellence for the Invacare Group and we have a long history of partnering with Dynamic Controls for R&D projects.

“This is an important vote of confidence from the New Zealand Government. The investment recognises Dynamic Controls’ track record of innovation and significance to the New Zealand economy,” Blouch says.

Dynamic Controls is the world’s leading manufacturer of electronic controls for powered wheelchairs and the company prides itself on creating products for the disabled community. Dynamic Controls employs 360 staff with 190 based in Christchurch. In 2009 it had revenues of approximately NZ$100 million.

Invacare is a Fortune 500 company listed on the New York Stock Exchange. It is the world's leading manufacturer of wheelchairs, bariatric equipment, disability scooters, respiratory products and other homecare products. Ends

ENDS

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