ARCADIA RES INC (AMEX:ACDI)
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Arcadia Resources Unit Acquires Home Health Professionals
--Expands Reach to Include Eight New Michigan Markets; Adds Immediate Revenues
of $7 Million--
SOUTHFIELD, Mich., May 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 that its Arcadia Health Services of Michigan division has
acquired 100% of the assets of Home Health Professionals. In business for 11
years, Home Health Professionals provides comprehensive home care services and
temporary staffing for healthcare facilities and other businesses in Southwest
Michigan.
Home Health Professionals serves the state of Michigan from eight office
locations in Ann Arbor, Battle Creek, Coldwater, Jackson, Kalamazoo, Lansing,
Livonia and St. Joseph. The company reported profits on annual sales of $7
million in 2004. Arcadia plans to retain all Home Health Professionals account
service personnel and the company management team to maintain and continue
excellent relationships with current Home Health Professionals' customers.
John E. Elliott II, chairman and CEO of Arcadia Resources, Inc., stated, "We
continue to successfully execute a prudent growth-through-acquisition strategy.
The purchase of Home Health Professionals immediately expands our home care
services and equipment businesses. Additionally, we have a significant
opportunity to cross-market our higher margin, Durable Medical Equipment (DME)
and mail-order pharmacy products to their existing customer base. Upon
integration of this acquisition, Arcadia stands to add established revenue
sources with solid potential for scalability."
Thomas J. Unger and Patricia D. Slayton, Co-founders of Home Health
Professionals, Inc. stated, "The management and staff of Home Health
Professionals are extremely pleased to join a leading, national company such as
Arcadia Resources. Arcadia shares our family-centric approach to home health
care. This acquisition supports our initiatives to increase our U.S. footprint
as well as supports our goal to maximize an individual's potential for quality
of life."
Since mid-2004, Arcadia has successfully acquired multiple staffing and home
health care businesses in Alabama, Colorado, Florida, Georgia, Illinois,
Massachusetts and North Carolina. Arcadia currently operates through 12
affiliated agencies across Michigan under the Arcadia Staff Resources and
Metrostaff brands. Arcadia plans to continue to acquire synergistic companies
with established operations in the U.S. throughout 2005.
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, 781-444-6100x613; .
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 of National Financial Network,
+1-781-444-6100, ext. 613, , for Arcadia Resources, Inc.
Web site: http://www.arcadiaresourcesinc.com/
http://nfnonline.com/acdi