RAF Industries Invests In Freedom

PHILADELPHIA, Oct. 22, 2012 /PRNewswire-iReach/ -- RAF Industries made a substantial equity investment in  Freedom Medical, a national provider of movable medical equipment, specialty beds and medical asset management services.  The Company's critical care equipment and specialty beds are used in hospitals, sub-acute and alternate-site healthcare facilities across the USA.  Freedom offers critical care and therapeutic support equipment including respiratory, infusion, patient monitoring, specialty beds and neonatal care equipment.  Over the past several years Freedom has added advanced support surfaces and bariatric beds to its rental fleet.  With over 30,000 pieces of rental equipment, an impressive portfolio of national GPO contracts and a growing branch network, Freedom Medical is positioned to continue its expansion nationally. 

"Freedom Medical is a low cost, high service provider that offers hospitals and healthcare providers a reliable and economically responsible alternative to the high cost of capital asset acquisition and management." explained Dominic Greco, CEO and Co-founder of Freedom Medical.  "We have worked hard to earn our place as a contracted provider for the nation's largest GPO's including MedAssets, Amerinet, Novation, HPG and Premier. " stated Frank Gwynn, Freedom's President and Co-founder.  "Teaming with the management team at Freedom, RAF will provide the capital and expertise to accelerate Freedom's strategic expansion including opening additional branch locations across the USA" commented Robert A. Fox, Chairman and CEO of RAF Industries.  The transaction team was led by Jonathan Sadock, Managing Partner of Paragon Ventures who initiated the transaction and was a strategic advisor to Freedom Medical. 

About Freedom Medical

Freedom Medical, based in Exton PA, is a leading provider of electronic medical equipment and related services to hospitals, alternate site healthcare providers, and EMS transport organizations throughout the United States and other countries.  Freedom Medical was established in 1997 to assist healthcare providers to improve utilization and reduce the costs of managing their moveable medical equipment.  www.freedommedical.com

About RAF

RAF Industries, founded in 1979 and based outside of Philadelphia, is a private investment firm focused on long-range investments and acquisitions of companies led by owners with unique vision and strong ethics. RAF is committed to the sustained growth and development of its portfolio companies, seeking to keep former owners actively involved and offering incentives to encourage their continued entrepreneurship. RAF Industries seeks to invest in branded consumer product and service companies, niche leasing companies, and proprietary industrial product and service companies.  www.rafind.com

About Paragon Ventures

Paragon Ventures is one of the nation's leading specialists in the merger, acquisition and divestiture of private mid-market healthcare companies.  Paragon specializes in the health care industries including all aspects of the home healthcare, respiratory care, infusion therapies, nursing services, medical manufacturing, distribution and related medical technologies.  Paragon Ventures initiated the transaction and acted as a strategic advisor to Freedom Medical.  www.paragonventures.com

Media Contact: Jonathan Sadock, Paragon Ventures LLC, 610-331-6900, jsadock@paragonventures.com

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SOURCE Paragon Ventures LLC

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