ARCADIA RES INC (AMEX:ACDI)
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Arcadia Resources Enters Indiana Market and Expands Into Metro
Chicago With Acquisition of Health-Link, LLC
-Retains UBS Investment Bank as M&A Financial Advisor-
SOUTHFIELD, Mich., June 2 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc.,
(OTC:ACDI) (BULLETIN BOARD: ACDI) , a leading provider of home care and
staffing services, mail order pharmacy and durable medical equipment ("DME"),
announced today it has acquired 100% of the assets of Health-Link, LLC.
Health-Link is a durable medical equipment supplier focused on respiratory
disease management with operations in Northwest Indiana and Metropolitan
Chicago, Illinois. Upon full integration of the acquisition, it is anticipated
that Health-Link will operate the business under the Arcadia H.O.M.E. (home
oxygen medical equipment) name. Terms of the acquisition were not disclosed.
Abraham Sabbagh, Managing Member of Health-Link, stated, "Health-Link is very
excited to join Arcadia Resources. I believe Arcadia's expanded scope of
services and strong management team will greatly benefit our customers in
Northwest Indiana and Metro Chicago."
Larry Kuhnert, President of Arcadia Resources, stated, "We have known Mr.
Sabbagh since 2000 as one of our highly successful sales affiliates operating
Arcadia home care services in Michigan and Indiana. He currently continues to
serve the Muskegon, MI market and has relocated his Crown Point, IN office to
the Chicago area. As the principal of Health-Link, Abraham brings a cross
section of marketing expertise on both the home care services and DME (durable
medical equipment) side of our business. His experience is a tremendous asset
to us as we create a new sales presence in the state of Indiana as well as
significantly expand our existing market coverage in greater Chicago. This
acquisition supports our overall strategy to expand sales nationwide across
multiple revenue streams, including mail order, home health care products and
services."
John E. Elliott II, Chairman and CEO of Arcadia Resources, stated, "We continue
to be focused on solidifying Arcadia's position as a leading provider of home
health care products and services. As our aggressive merger and acquisition
strategy accelerates throughout 2005, we have retained UBS Investment Bank, one
of the world's leading investment banking and securities firms, to act as our
financial advisor. UBS will assist us to identify new opportunities of growth
as well as facilitate additional M&A opportunities. We are targeting
synergistic companies with established operations, clients and revenues in
2005."
Since mid-2004, Arcadia has successfully acquired multiple staffing, home
health care and DME businesses in Alabama, Colorado, Florida, Georgia,
Illinois, Indiana, Massachusetts and North Carolina.
About Arcadia Resources, Inc.
Arcadia Resources, Inc. helps organizations operate more effectively and with
greater flexibility, and enables individuals to manage illness and injury in
the comfort of their own homes. Headquartered in Southfield, Michigan, the
company's core businesses are comprehensive home care services, medical and
non-medical staffing, mail-order pharmacy and durable medical equipment. For
more information about Arcadia, please visit the company's Web site at
http://www.arcadiaresourcesinc.com/ . Investors should visit
http://nfnonline.com/acdi /.
For more information, contact: Geoff Eiten, Investor Relations, National
Financial Network, 781-444-6100 x613; .
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this press release are
forward-looking statements that involve certain risks and uncertainties
including but not limited to risks associated with the uncertainty of future
financial results, regulatory approval processes, the impact of competitive
products or pricing, technological changes, the effect of economic conditions
and other uncertainties as may be detailed in the Company's filings with the
Securities and Exchange Commission.
DATASOURCE: Arcadia Resources, Inc.
CONTACT: Geoff Eiten, Investor Relations, National Financial Network,
+1-781-444-6100, x613, or
Web site: http://www.arcadiaresourcesinc.com/
http://nfnonline.com/acdi