VRI exits security business
January 29, 2004
SPRINGBORO, Ohio - Valued Relationships Inc., a provider of medical response monitoring, has sold its security division to Alarm Capital Alliance, a specialty security lender based in Woodlyn, Penn.
According to Darren Torrence of VRI, the company shed its just under 300 security accounts to focus on its medical monitoring business. He said VRIÃ¢â‚¬â„¢s employees in the Springboro headquarters will not be affected by the sale, which had been in the works for several months.
Torrence said VRI decided to exit the security business because its operation hadnÃ¢â‚¬â„¢t been as healthy as the companyÃ¢â‚¬â„¢s other operations.
"We got out of security because it is less profitable and didnÃ¢â‚¬â„¢t really fit well with our emphasis on personal emergency response and the opening of our call center, as well as the addition of medication management and vital signs monitoring," he said.
Because the security component of VRIÃ¢â‚¬â„¢s business made up such a small portion of VRIÃ¢â‚¬â„¢s 15,000 accounts, Torrence said the company felt its security accounts would be better served in the hands of a more security-focused company.
VRIÃ¢â‚¬â„¢s former security division operated out of the Cincinnati-Dayton area. Alarm Capital has contracted Henderson Security of Loveland and Customized Security of Hamilton for continuing service and installation services. Both Henderson and Customized have an existing relationship with Alarm Capital.