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ACDI ARCADIA RES INC

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Share Name Share Symbol Market Type
ARCADIA RES INC AMEX:ACDI AMEX Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Arcadia Resources Unit Acquires Home Health Professionals

02/05/2005 5:48pm

PR Newswire (US)


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

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