E. PROVIDENCE, R. I. (December 5, 2018)—Paragon Ventures has announced the sale of Independence HomeHealthWares to Point Ventures Inc. Independence is a provider of home medical equipment, supplies and related services throughout Rhode Island and nearby Massachusetts.
Independence was founded in 1999 by Richard Westlake and Charlene Russell. “On behalf of all of us at Independence, I want to welcome Todd Ackerman (Point Ventures), and wish him and the team great success going forward. All of us are committed to helping our customers become independent of the physical challenges they are facing and doing so with dignity and compassion,” said Westlake, Independence’s past president.
Charlene Russell will remain as chief operating officer and will continue the legacy of the company and its operations from Independence’s current location, while employing all its staff. Ackerman will serve as president and brings an experienced background in health care services, financial services and marketing. The terms of the transaction were not disclosed.
Paragon Ventures initiated the transaction and acted as exclusive strategic advisor. The transaction team was led by April H. Mason, managing director of Paragon Ventures, which was established in 2018 to pursue acquisitions within the durable medical equipment and medical supplies industries.
Visit homehealthwares.com for more information.
