Invocare (IVC)

Shares / Stock Code

IVC

Stock Exchange / Sharemarket

ax

InvoCare (IVC) caters funerals, burials and cremations related services in Australia and Singapore. InvoCare listed on the Australian Stock Exchange on 4th December, 2003. There are about 151 funeral locations, 12 cemeteries and crematoria under management of IVC. The Company offers two national brands comprising White Lady Funerals and Simplicity. Its traditional funeral home brands consist of Blackwell, Guardian, George Hartnett, Le Pine, Purslowe. The Company also offers Value/Economy Funerals for those families who are financially not strong. IVC’s cemetery/crematoria business comprises sites, like Newcastle Memorial Park, Lakeside Memorial Park, Pinegrove Memorial Park, Forest Lawn Memorial Park, Lake Maquarie Memorial Park, Castlebrook Memorial Park, Albany Creek Memorial Park, Mt Thompson Memorial Gardens and Allambe Memorial Park. On March 1, 2007, InvoCare completed the acquisition of Liberty Funerals Pty Limited. It took over the assets of Chippers Funeral business on December 13, 2007.

The Company aims to expand its Guardian brand in the traditional market. The fragmented nature of the market has allowed the Company to achieve business growth through acquisition. IVC holds a strong presence in the funeral industry and is focused on providing innovative and enhanced services. IVC seeks to maximise the wealth of investor via sound fiscal management and corporate growth.

Invocare History

InvoCare was floated on the Australian Stock Exchange in December 2003, with a raising of $172M. The company commenced operations during the 1990s as Service Corporation International Australia (SCIA). Service Corporation International (NYSE: SCI), a leading funeral services provider in the US held a 20% share in SCIA. The Company’s balance was owned by private equity investors. In 2003, SCI disinvested its equity interest in SCIA.